SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 380.080.0%Nov 25 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TobagoJack who wrote (154363)3/15/2020 2:58:24 AM
From: bull_dozer2 Recommendations

Recommended By
Dr. Voodoo
marcher

  Read Replies (1) of 218022
 
Chaos, Viruses & Cash is Not Trash but King


QUESTION: Marty; first I want to thank you for Socrates. It called the crash in stocks, gold, currencies, and Bitcoin when everyone else was foaming at the mouth. The rumor was that $16 billion in gold was dumped. Was this just trying to crush the goldbugs, or was this more what you said at the WEC about this would be like the LTCM crisis of 1998? Does the coronavirus have any real impact or is this just the excuse for the 20% correction you forecast at the WEC in October coming in January?

...
...
...
...

As far as the dumping of gold and Bitcoin, yes, this is what I was talking about that this crisis would be a combination of 2008 & 1998. Here the problem is not mortgage-backed securities, but hedge fund was buying piles of US Treasuries and selling the derivatives trying to lock in guaranteed trades as always. The spread has reversed and we have seen massive selling of off-the-run Treasuries which are the older issues. The market is not as deep for the older issues and they normally trade at a slight discount to the current benchmark. Here, they crashed as were trading at 25bp below. This was reflecting panic selling to raise cash. This is what I meant about a revisit of 1998. Hedge funds get trapped and start selling everything. Hence, those who thought gold was the safe haven were caught on the wrong side of the Quantity Theory of Money philosophy and discovered that “cash is [not] trash”, but KING! Yes, the rumor is one fund lost $32 billion last week.

armstrongeconomics.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News