| | | Same seems it is "the plan" for equity markets, too...
First a zoom... (up another 3%... or 30%) then a boom (down 85%) ... enabling profit taking on both ends of the trade if you know what is coming... both in sequence of events and timing... with profits taken long, and then short, meaning $$$ for buying up everything still worth buying at the bottom ?
Gold and miners to implode with the market ? Or, before... and then with them, again ?
Wait for it... takes on new urgency... when risks grow.
Only, wait for what... and, in what position should one remain while waiting ?
Of course, Goldman might be lying... and talking book... as they clearly were in their two prior missive ? Are the markets really awash in unencumbered cash getting impatient while waiting to buy ? Or, the mass of cash and bonds shown in the link... is Treasure debt bought by the Fed... $ given to the banks as QE and then borrowed back at above market rates as overnight reverse repo ? It could all be bullshit. But, who knows, maybe one of the worst ever market openings... is really a huge flashing green light to stock market bulls... (only, that also meaning the Fed ?)
Goldman: Here's Why The Shorts Will Have To Cover This Week
And, it seems very likely that there are many people who are probably misreading the actual meaning of the BOE / LBMA announcements of "suspension" of the implementation of BIS standards in London in January ?
GATA links the Reuters article:
Britain carves out exemption for gold clearing banks from Basel III rule
ZH: UPDATE: Bullion Banks Get Basel Bypass Friday Night
It says... Banks clearing gold trades in London can apply for an exemption from tighter capital rules due in January 2022, a British regulator said on Friday, removing what some said was a threat to the functioning of the market...
My question: What happens when a bank, or a clearing bank... applies for an exemption ? My knee jerk reaction: The sharks immediately begin to dismember that foolish volunteer exposing its weakness.
The London Bullion Market Association (LBMA), an industry body, has lobbied against them, saying they are unnecessary and could force some banks – including clearing banks - to stop trading.
Oh, yeah... they're so concerned about the health of the market... that they can't implement rules that might make the market unwelcoming to its largest participants... who can't leave... without balancing the books. /s
Following a consultation, the Bank of England’s Prudential Regulatory Authority (PRA) said on Friday it had “decided to amend its approach to precious metal holdings related to deposit-taking and clearing activities.” It said it had introduced an “interdependent precious metals permission” which would reduce the size of the required capital buffer. “This is one of the key points that what we’ve been asking for all these years,” said Sakhila Mirza, the LBMA’s chief counsel. “Clearing will be exempt.”
Goobledegook Warning: "interdependent precious metals permission"... Unnhhhh ??? Search:
Vocabulary.com: "When objects or people are interdependent, they come to rely on each other for survival."
Other instances of thinking re the meaning of "interdependent" being used, now :
Interdependent Privacy: Let Me Share Your Data
Ie, Interdependent Privacy... is not privacy... but one of us agrees to pretend that it is.
RECOGNIZING THE INTERDEPENDENCE OF RIGHTS IN THE ANTIDISCRIMINATION CONTEXT THROUGH THE WORLD CONFERENCE AGAINST RACISM
"In an effort to facilitate and concretize this trend"... yeah... or, no... Means, "this shit means what we want it to mean when want to mean it"... and stop asking questions...
But, what is a "precious metals permission" ? Probably: "this shit means what we want it to mean when want to mean it"... and stop asking questions... |
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