Phil > Just like before the crash of '29, few if any signs of trouble exist.
This time they think they are smart because they can print with impunity. And they do. Don't forget, in 1929, there was still a gold standard and a corresponding belief that money had to have a "real" value. Today, that idea no longer exists (except in the minds of goldbugs, of course).
> The equity markets certainly don't predict it.
Tell that to the Elliott Wavers who still believe that the psychological interplay between the players is all that is important. (That's what the Elliott Wave theory is all about). These days, however, Elliott Waves have assumed a mystical quality and the one who can analyse them, let alone see them, is a true guru, if not an actual messiah.
> This "economic heart attack" could be a long way off still.
But we are in economic "heart failure" all the time, as evidenced by the congestion of blood (increased money supply = debt), swelling of fluid around the body (price inflation in consumables and bubbles in property and other assets) and an inability of the heart to do what it is supposed to do (manufacture, produce and employ). It is virtually impossible for "ordinary" people to avoid getting poorer all the time even though the nominal value of their assets appears to rise. Economic growth is pure fiction and is based on breaking things and then repairing them, as in Iraq.
> Today's POG action again shows the strength of those in charge, and the utter weakness of the yellow metal.
Don't get disheartened. But it is true, little people can't fart against thunder.
> Interesting to observe the continual dominance of COMEX traders with regard to the POG. I get the distinct feeling that "they" can set the POG at whatever level they want.
Yes, the whole play is just about derivatives and, as I frequently say, there is no particular increase in the actual demand for the metal. |
