The Lunatic Fringe - Market and Trade Chat

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

Zed said:
I've got a short 1200klm (745m) drive tomorrow, ozstralia, long way between drinks!
Click to expand...
Enjoy the ride. I thought that little AI chat you had was interesting. Almost seemed like the bot was going out of it's way to dent gold manipulation.

Didn't Shakespeare weight in at some point about something, commenting that 'Methinks he doth protest too much'?... just sayin'.
 
...
the U.S. Labor Department said its Producer Price Index (PPI) fell 0.5% last month following February’s revised unchanged reading. According to consensus forecasts, the data was significantly weaker than expected with economists looking for a 0.1% decline.

The report said that annual inflation rose 2.7%, down from 4.6% reported in February. According to consensus estimates, annual inflation was forecasted to rise 3.0%.

While headline wholesale inflation dropped sharply, the data also highlights relatively stable core inflation, which strips out volatile food and energy prices.

The report said that core PPI fell 0.1% last month. According to consensus estimates, economists were forecasting a 0.2% increase.

Meanwhile, for the year, core inflation rose 3.4%, unchanged from last month. ...
Click to expand...

www.kitco.com

Gold prices back at session highs as U.S. PPI drops 0.5% in March, increases 2.7% for the year

(Kitco News) - Consumers should continue to find some relief from rising prices later this year as producers see their inflation pressures drop a lot faster than expected in March.
www.kitco.com

These are the droids the Fed is looking for. More fuel for market speculation that the Fed will pause rate hikes...
 
Somewhere we were talking about money market funds that people are runing into. Looks like the FED might rug pull those and brokers via the Reverse Repo funds.

 
It's good for the Fed. Not so great for us Plebes. Recession and rising unemployment means disinflation inbound which also means a halt to rate hikes and eventually another round of QE to start the engine again. Gotta keep the ball moving in the rails in the grand game of Fiat shoot the moon.
 

Big Banks $600 Billion Secret and Why More Banks Could Fail If Rates Rise​


 
Last edited by a moderator:
...
The first-quarter earnings-reporting season picks up steam this week, with 60 S&P 500 companies, including six Dow components, reporting quarterly results, according to FactSet. Those companies will report as Wall Street analysts remain pessimistic about results for the quarter and the prospect of another so-called earnings recession in which profits contract for at least two straight quarters.
...
Click to expand...

www.marketwatch.com

U.S. stocks struggle for direction with earnings season set to pick up steam

S&P 500 hovers near the top of the 3,800 to 4,200 range within which it has vacillated for about five months.
www.marketwatch.com www.marketwatch.com
 
Recession fears in the U.S. are not abating as the Philadelphia Federal Reserve highlights further weakness in its region's manufacturing sector, with activity falling to a new three-year low.

Thursday, the regional central bank said its manufacturing business outlook fell more than expected to -31.3 in April, down from March's reading of -23.2. The data significantly missed expectations as economists looked for some improvement to -19.7.
...
Click to expand...

www.kitco.com

Gold prices at session highs as Philly Fed Survey drops to -31.3 in April

(Kitco News) - Recession fears in the U.S. are not abating as the Philadelphia Federal Reserve highlights further weakness in its regionâs manufacturing sector with activity falling to a new three-year low.
www.kitco.com

The initial weekly jobless claims rose by 5,000 to 245,000 in the week to Saturday, surprising the markets with a bigger-than-expected increase.

Economists’ consensus calls projected the initial claims to remain around 240,000, which was the previous week’s upwardly revised level.
...
Click to expand...

www.kitco.com

U.S. weekly jobless claims rise by 5k to 245,000

www.kitco.com

Both data points should support a Fed pause on rate hikes.
 
Irrational exhuberance warning:
...
Assets moving in tandem is the theme of our call of the day, from TheoTrade’s chief market technician, Jeff Bierman, who sees dark clouds gathering for markets due to “asset auto correlation overload.”

Bierman, an adjunct instructor at Loyola University’s business school, explains that bitcoin, gold, the S&P 500, bonds and oil have been “moving together in automatic serial correlation, driven simultaneously by algos,” that is, computer-driven trading algorithms used by Wall Street firms, hedge funds and other big investors.

“There’s nowhere to hide, no diversification in this type of market. This is a black swan event. It’s a bubble that can be burst at any time by an exogenous cataclysmic risk event or any number of factors,” Bierman tells client in a new note, adding that it’s “highly likely” this will mark the beginning of the end of the 2023 stock market rally.

im-766947


...
Bierman notes that almost every stock outside of financials has rallied to the point of being priced for perfection and beyond, with expectations also too high. ...
Click to expand...


www.marketwatch.com

These five synchronized assets are pointing to a 'black swan event,' says market veteran

Professor Jeff Bierman says bitcoin, gold, the S&P 500, bonds and oil are "moving together in automatic serial correlation," and that's not a good thing.
www.marketwatch.com www.marketwatch.com
 
Via Weekend Trend Trader rules, Hecla will be sold at Monday's open for a loss of 0.16% or about flat.

HL_2023-04-21_16-22-10.png
 
Last edited:
22 million in gold robbed from airport in Canada. How is that possible? Airports are supposed to be secure and you would think a shipment of gold would have some security attached to it.
 
Cigarlover said:
22 million in gold robbed from airport in Canada. How is that possible? Airports are supposed to be secure and you would think a shipment of gold would have some security attached to it.
Click to expand...
Toronto’s Pearson airport is one of the worst in the world. Militant unions, horrible management, most delays and cancellations in Canada. Lost and confiscated luggage being sold to charities. Everybody a spook or turban.
My bet is that customs will be found guilty of running drugs through there at some point. The gold theft doesn’t surprise me at all.
 
Dollar sinking and markets all going green:
As House Republicans' $4.8 trillion debt-limit package hangs in the balance, Speaker Kevin McCarthy (R-CA) and his top lieutenants made several concessions in order to secure enough votes to pass the Limit, Save, Grow Act.

The changes, aimed at winning over holdout Midwestern Republicans who threatened to sink the bill, were the result of a marathon House Rules Committee meeting that stretched into early Wednesday morning, and include an amendment which softens a provision repealing several biofuel tax credits, according to Punchbowl News.
...
Click to expand...

"There Appears To Be A Deal": McCarthy Makes Late-Night Concessions On $4.8 Trillion Debt-Limit Package | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
 
You must log in or register to reply here.
Back
Top Bottom