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Charts from the Lunatic Fringe.

Zed

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Its funny how in Australia the conservatives are called "liberals"...
Well it is funny to you maybe but they are true Liberals, they are not right-wing conservative, they are what the Democrats once were. Our right wing parties are fringe with no chance and Labour is quite far left while our Greens are radical, human-hating, looney left.
 

Zed

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My ASX Goldies now up ~2% heading into the last 1.5 hours of trade.

Still got that resilient feeling... not really that spooked by anything gold is doing.

I'm still not really used to it.
 

Zed

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Gold Daily, updated.

Near support @1270 odd or the 200 dayyyyyyyyyyyyyyyy MA?! Say a 1250 tag? I know it has been talked of for a long time. It would have to be a great entry.

AU-D-20190521.png
 

Goldhedge

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@louky what does 1251 pivot mean exactly?
 

Zed

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Seesaw.... yo, yo! Giving back yesterdays gain so far today!
 

Zed

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On a brighter note support was respected....for now.

AU-D-20190522.png
 

Zed

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July?
 

louky

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Comex gold bounces again from its 200-day moving average of $1269.60. And now it appears that "someone" has had an algo running on the bid ever since. But, according to the Generalists and Apologists, we only talk about manipulation to the downside so just ignore this chart...
Blog experts and their moving average conspiracy theories......never fails at these critical junctures

1269, bottom of the box....posted for years and years lol
 
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louky

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@louky what does 1251 pivot mean exactly?
All that matters is the boxes, posted for years and years, not any lines or MA's, etc. The lines and MA's will just magically become the numbers i posted.

Pivot is simply a transition point between the boxes. Read back in the thread for fake north korea news as the shining example of 1251. ;) It's the major historical pivot between bottom of the current box 1269 and top of lower box at 1197.
 

louky

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69ish-78 normally good for a bounce
Screenshot_20190522-084717_NetDania.png

Screenshot_20190522-084850_Google.jpg

Goldies was crashing, what happened?

1269 bottom of the box - caught the panic crashing

1278 bottom of inner box - lot of bumping on it

1269[1278-1287]1296

Just watch for support/ resistence before making each new target now
 

Goldhedge

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Crush The Street

Debt never goes away unless it is paid down or defaulted on.

 

Zed

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Re: Nenners comments DB @ < $6.40 means it is gonna die! Just a dollar away... can you spell contagion? Expect something official to happen soonish I'd guess.

DB-W-20190523.png
 

savvydon

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We've got a little gold/silver bump this morning with the Comex opening. It will be interesting to see what the miners do with that.
 
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Go figure, Platinum going back to all time lows. And here I thought I got in for a breakout.
 
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On the 5-year chart, looks like we're very close to a triple bottom.
 

savvydon

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On the 5-year chart, looks like we're very close to a triple bottom.
Yes, Platinum is getting kicked in the teeth again. Bid fell below $800 and the Gold to Platinum ratio is approaching new highs again.

Meanwhile, moves by gold and silver are being muted somewhat by a dollar headwind. The dollar is trading in two year high territory this morning.
 

savvydon

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Very engineered feel today. Despite the dollar turning around a tailwind never came behind the metals. The miners clearly are not feeling it either. Even the broader stock market's losses seemed controlled. More of the same old same old - meh.
 

Zed

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Seesaw.... yo, yo! Giving back yesterdays gain so far today!
Yo, yo! Got back the losses today.



... as long as the peeps in the front carriage hold it down we might even get out of this smelling sweet!
 

Zed

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BTW, six weeks of backing and filling so far.
 

Zed

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Strawboss

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When DB starts emitting death rattles - things are going to get...very interesting...

The daisy chains from the derivatives are simply not knowable...how many are specific performance contracts? What are the sizes? Who are the counterparties? Who are the counterparties counterparties?

What size of a liquidity backdrop will be required to paper over everything?

Simple math...if DB has say 50 Trillion in derivatives exposure and 5% of them are "trouble"...thats 2.5 Trillion. But thats not the whole problem - that 2.5 Trillion will richochet throughout the global financial system and expose how much leverage was applied on top of that... 5x? 10x? 100x? And I think an estimate of only 5% of the derivatives being "trouble" is..."optimistic"...

Global financial reset coming in....3....2....1...
 

Zed

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When DB starts emitting death rattles - things are going to get...very interesting...
There has to be a plan to nationalize this puppy, the whole world knows it is coming.
 

Strawboss

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There has to be a plan to nationalize this puppy, the whole world knows it is coming.
What nation has the financial strength to take on the potential levels of liability? I cant think of one...
 

Goldhedge

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Yo, yo! Got back the losses today.



... as long as the peeps in the front carriage hold it down we might even get out of this smelling sweet!
Where is this fun ride!?

Why is DBank so important?
 

Goldhedge

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Negative Interest Rates Spread To Mortgage Bonds
BY JOHN RUBINO ◆ MAY 24, 2019 1 COMMENT

There are trillions of dollars of bonds in the world with negative yields – a fact with which future historians will find baffling.

Until now those negative yields have been limited to the safest types of bonds issued by governments and major corporations. But this week a new category of negative-yielding paper joined the party: mortgage-backed bonds.
(Investing.com) – At the biggest mortgage bank in the world’s largest covered-bond market, a banker took a few steps away from his desk this week to make sure his eyes weren’t deceiving him.​
As mortgage-bond refinancing auctions came to a close in Denmark, it was clear that homeowners in the country were about to get negative interest rates on their loans for all maturities through to five years, representing multiple all-time lows for borrowing costs.​
“During this week’s auctions, there were three times when I had to stand back a little from the screen and raise my eyebrows somewhat,” said Jeppe Borre, who analyzes the mortgage-bond market from a unit of the Nykredit group that dominates Denmark’s $450 billion home-loan industry.​
For one-year adjustable-rate mortgage bonds, Nykredit’s refinancing auctions resulted in a negative rate of 0.23%. The three-year rate was minus 0.28%, while the five-year rate was minus 0.04%.​
The record-low mortgage rates, which don’t take into account the fees that homeowners pay their banks, are the latest reflection of the global shift in the monetary environment as central banks delay plans to remove stimulus amid concerns about economic growth.​
Denmark has had negative rates longer than any other country. The central bank in Copenhagen first pushed its main rate below zero in the middle of 2012, in an effort to defend the krone’s peg to the euro. The ultra-low rate environment has dragged down the entire Danish yield curve, with households in the country paying as little as 1% to borrow for 30 years. That’s considerably less than the U.S. government.​
The spread of negative yields to mortgage-backed bonds is both inevitable and ominous. Inevitable because the current amount of negative-yielding debt has not ignited the kind of rip-roaring boom that overindebted countries think they need, which, since interest rates are just about their only remaining stimulus tool, requires them to find other kinds of debt to push into negative territory. Ominous because, as the world discovered in the 2000s, mortgages are a cyclical instrument, doing well in good times and defaulting spectacularly in bad. Giving bonds based on this kind of paper a negative yield appears to guarantee massive losses in the next housing bust.

Meanwhile, this is year ten of an expansion — which means the next recession is coming fairly soon. During recessions, the US Fed, for instance, tends to cut short-term rates by about 5 percentage points to counter the slowdown in growth.

With Europe and much of the rest of the world already awash in negative-yielding debt



… this imminent slide in interest rates will turn the rest of the global financial system Danish, giving us bank accounts and bond funds that charge rather than pay, and very possibly mortgages that pay rather than charge.
Anyone who claims to know how this turns out is delusional.