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Scorpio

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after painting that 33 handle, oil reversed and went on a big run to the up from there,
now over 37

really nice reversal,
 

arminius

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Are you ready for fiat digital dollars in your fiat digital wallet?
 

Uglytruth

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Staying in a motel & the weather is nice. Getting caught up on what is going on when I decided to take a walk and maybe get a bite and something to drink.

Few blocks away there was a Wendys and a spicy chicken and frosty sounded good. So I tried to go in. Dining area closed at 7:00 PM & it was 8:30. So I walked around to the speaker and waited and said hey etc.... nothing so I walked up to the window & was ignored. Then I walked up to the second window and some fat heifer waddled away and I waited and waited then I walked back to the first window. Now I'm pissed. So I knock & get the attention of some guy & he yelled for someone to take my order at the other window again. So I waited and waited an waited..... the a car came through the drive through so I stood there and she said we can't take walk up orders. I said your open & I can't walk in so how do you expect me to order. She said it was company policy. I said discriminating against the carless is company policy? Discrimination is company policy? She didn't know what to say and said you want to talk to my manager I I said sure. It was the heifer standing just out of my sight. Heifer didn't come to the window & she let the sassy bitch take my order.

She takes my money & askes to get the car it's food. I said no problem. Guy was shaking his head so while he waited we were talking & he is pissed off as where he was there were some biden people & he said he had to leave before he got in a fight.

So once he leaves she come & shoves a bag out the window. I ask where is my frosty and she said I ordered fries. She gives me a frosty & a bunch of shit.
 

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'In 130,000 years, our capacity for reason has remain unchanged. The combined intellect of neuroscientists, engineers, and mathmaticians pales in comparison to even the most basic AI. Once online, a sentient maching will quickly overcome the limits of biology. In a short time, its analytical power will be greater than the collective intelligence of every person born in the history of the world. Some scientists refer to this as the Singularity. I call it TRANSCENDENCE.'

- Will Caster, Transcendence
 

TAEZZAR

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'In 130,000 years, our capacity for reason has remain unchanged.

I find that very hard to swallow !
NO, better yet, I call Bullschiff !!!
Where are the records of human even being on Earth 130,000 years ago, This guy must be related to Al Gore, the climate change whore !
I believe that our ability to reason increases with our knowledge base.
 

Uglytruth

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'In 130,000 years, our capacity for reason has remain unchanged. The combined intellect of neuroscientists, engineers, and mathmaticians pales in comparison to even the most basic AI. Once online, a sentient maching will quickly overcome the limits of biology. In a short time, its analytical power will be greater than the collective intelligence of every person born in the history of the world. Some scientists refer to this as the Singularity. I call it TRANSCENDENCE.'

- Will Caster, Transcendence
That was the basis of 1/2 of the star Trek episodes until Captan Kirk outsmarted or used logic or emotions to overcome whatever was the problem was.
 

TAEZZAR

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That was the basis of 1/2 of the star Trek episodes until Captan Kirk outsmarted or used logic or emotions to overcome whatever was the problem was.

I stopped watching when it descended to "monsters" in the universe !:make happy:
 

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I find that very hard to swallow !
NO, better yet, I call Bullschiff !!!
Where are the records of human even being on Earth 130,000 years ago, This guy must be related to Al Gore, the climate change whore !
I believe that our ability to reason increases with our knowledge base.

Think about a machine with the ability to learn 24/7/365 ad infinitum, it requires no sleep, no bathroom breaks, showers, food, water, or vacations, etc... It wont require a long period for this machine to overcome the collective intelligence of every person born in the history of the world. Its mathematical, as knowledge & technology tend to expand exponentially.... JMO
 

Thecrensh

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Think about a machine with the ability to learn 24/7/365 ad infinitum, it requires no sleep, no bathroom breaks, showers, food, water, or vacations, etc... It wont require a long period for this machine to overcome the collective intelligence of every person born in the history of the world. Its mathematical, as knowledge & technology tend to expand exponentially.... JMO
and has no historical context or empathy....
 

TAEZZAR

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Do we really need to belong to the "UN" of commerce? NO !
I have said, for years, the U.S. needs to bring home ALL military from around the world & give civilians 90 days to get their asses back to the States.
Then we hang a virtual sign out the says "BORDERS CLOSED FOR REMODEL".
"NO TRESPASSING, TRESPASSERS WILL BE SHOT ON SITE"
Then start a re-education program of the military & others by testing them for their natural abilities (like us elders did in grammar school. It was quite accurate). This would put them in the best scenario possible for an effective education. Their education would be in the following disciplines, as a minimum,
1. Education
2. Medicine
3. Science
4. Environmental
5. Housing
6. Energy
7. Transportation
8. Farming
9. Nutrition
10. Defense, self defense & national defense
Etc......
Then, when we have it accomplished, we SELL it to the rest of the world for a profit. :finished 2:
 

TAEZZAR

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Think about a machine with the ability to learn 24/7/365 ad infinitum, it requires no sleep, no bathroom breaks, showers, food, water, or vacations, etc... It wont require a long period for this machine to overcome the collective intelligence of every person born in the history of the world. Its mathematical, as knowledge & technology tend to expand exponentially.... JMO
Sounds very dangerous to me !
 

WillA2

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Think about a machine with the ability to learn 24/7/365 ad infinitum, it requires no sleep, no bathroom breaks, showers, food, water, or vacations, etc... It wont require a long period for this machine to overcome the collective intelligence of every person born in the history of the world. Its mathematical, as knowledge & technology tend to expand exponentially.... JMO

It will have limits. Someone must maintain its infrastructure. It is not self-mobilizing and requires input from people who do the maintenance. Therefore it is limited by it's own biology.
 

Uglytruth

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Does anyone need any more proof they off'ed Scalia so killinton could replace him & Ruth? That way they could stack the court, make dc & that island states.

If commiefornia goes red now you know why they will not break it up into 3-4 states. They don't want to loose the easy 55.

Face it...... if they are allowed to breath they will continue to fight. At this point there is only the solution of the rope. Nothing less will do.
 

Tbonz

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Does anyone need any more proof they off'ed Scalia so killinton could replace him & Ruth? That way they could stack the court, make dc & that island states.

If commiefornia goes red now you know why they will not break it up into 3-4 states. They don't want to loose the easy 55.

Face it...... if they are allowed to breath they will continue to fight. At this point there is only the solution of the rope. Nothing less will do.


No more proof needed regarding Scalia, but I would love to see the proof that Roberts has been compromised because I’d bet sex with my wife for the rest of my life, oh shit .......
 

Thecrensh

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Does anyone need any more proof they off'ed Scalia so killinton could replace him & Ruth? That way they could stack the court, make dc & that island states.

If commiefornia goes red now you know why they will not break it up into 3-4 states. They don't want to loose the easy 55.

Face it...... if they are allowed to breath they will continue to fight. At this point there is only the solution of the rope. Nothing less will do.
Of course they did.
 

JayDubya

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The Pandemic Has Broken Shale and Left Oil Markets in OPEC Hands

The Pandemic Has Broken Shale and Left Oil Markets in OPEC Hands
Kevin Crowley, David Wethe and Sheela Tobben
Sat, November 28, 2020, 6:00 AM CST


(Bloomberg) -- OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years the shale boom won’t be at the top of the list.

A devastating global pandemic and a reckoning with Wall Street appear to have broken the resolve of the shale wildcatters who turned the U.S. into the world’s biggest oil producer. Years of breakneck growth, at the expense of crude kingpins in the Middle East and Russia, have come to an end. If there was ever any doubt, it’s now abundantly clear who has the upper hand in the global oil market.

“In the future, certainly we believe OPEC will be the swing producer — really, totally in control of oil prices,” Bill Thomas, chief executive officer of EOG Resources Inc., the biggest independent shale producer by market value, said earlier this month. “We don’t want to put OPEC in a situation where they feel threatened, like we’re taking market share while they’re propping up oil prices.”

The shale industry’s prudence, also echoed by the CEOs of Pioneer Natural Resources Co. and Occidental Petroleum Corp., means that production will probably flatten after a steep plunge this year. U.S. oil output will end 2021 close to 11 million barrels a day, about the same as it is now, according to forecasters IHS Markit, Rystad Energy, Enverus and the U.S. Energy Information Administration.

“I see no more growth until 2022, 2023, and it will be very, very light in regard to the U.S. shale industry ever growing again,” Pioneer CEO Scott Sheffield, who’ll run the fourth-largest shale operation in the country after his company completes the takeover of Parsley Energy Inc., said in an interview.

That will surely come as a relief to OPEC and its allies.

At the start of 2020, the group’s efforts to control prices were facing increasing difficulties. The breakthroughs in horizontal drilling and fracking that ushered in the shale revolution made it look as though U.S. production growth might never end.
Output surpassed 13 million barrels a day for the first time in February.

Then Covid-19 hit, people around the world stopped driving and flying, and the oil market crashed. President Donald Trump brokered a historic deal with OPEC in April to remove almost a 10th of global production from the market. He said the U.S. contribution would come in the form of market-driven cuts.

That pledge was delivered faster than most predicted, and it made a huge difference. Investors who were already tiring of the shale industry’s cash-burning spree retreated from the sector, and several producers went bankrupt. Before the summer was over, U.S. output had collapsed by 3.4 million barrels a day, almost the same as removing the United Arab Emirates at peak production.Output from shale wells typically declines in a matter of months, so new ones need to be drilled and fracked just to maintain production at current levels. A recent uptick in drilling and fracking doesn’t seem to be enough to ensure production growth.

Since hitting bottom in the summer, the number of rigs searching for crude in shale fields has increased by 69 to 241 this week, according to data from Baker Hughes Co. That’s still down from 683 in March. Similarly, the number of fracking crews in the once vibrant Permian Basin straddling Texas and New Mexico has increased to 63, an improvement from a meager 20 in June, data from Primary Vision Inc. show. But that’s less than half the 146 teams that were pumping mixtures of water, chemicals and sand into wells in January to release oil from shale rock in the area.

It’s as though the U.S. suddenly went from being a thorn in OPEC’s side to being an unofficial member of the cartel’s alliance with Russia and other producing nations. Since June, benchmark U.S. oil prices have been remarkably stable, hovering around $40 a barrel, and that’s how OPEC likes it.

Now, when the cartel meets in a virtual gathering Nov. 30, and the broader OPEC+ alliance on Dec. 1, they’ll probably be more focused on the pandemic’s impact on fuel consumption. Most of the crude the group removed from the market has already been successfully brought back without any turmoil.

While shale’s retreat has made OPEC’s life easier, for the U.S. oil industry it’s been brutal. There have been 43 bankruptcies of exploration and production companies this year through October, according to a report from law firm Haynes & Boone.
Shale may be down but it’s certainly not out, though. The U.S. is still an oil superpower, and will remain so for years to come. And there’s always the possibility that higher prices will get explorers drilling and fracking relentlessly like before.A sustained price rise to $50 a barrel will “trigger growth again,” according to Bernadette Johnson, vice president for strategy and analytics at Enverus. At $60 a barrel, U.S. shale will come back strongly, she said.

The oil market received a boost this week as AstraZeneca Plc became the third drug company to show promising results from a trial of its coronavirus vaccine. That helped push prices in New York above $45 a barrel for the first time since March. If other pieces of bullish news take prices to levels that would encourage growth in shale, even if temporarily, producers could seize the opportunity to lock in prices with hedging contracts. That’s a risk OPEC+ will have to consider.

Whether investors will be willing to bankroll shale anew is another question. Before Covid-19, the industry was already buckling under high debts and shareholder discontent. Shale producers burned through about $342 billion of cash since 2010, Deloitte LLP said in June.

Another unknown is what titans Exxon Mobil Corp. and Chevron Corp. will choose to do next year. Both slashed capital budgets by around a third this year, with the biggest cuts coming from U.S. shale.

"Crucially, OPEC+ does not have to battle for market share just yet,’’ Natasha Kaneva, a commodities analyst at JPMorgan Chase & Co., said. “After six months of minimal capital spending, U.S. shale production will remain constrained.”
 

JayDubya

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The Federal Housing Finance Authority (FHFA) and Department of Housing and Urban Development (HUD) announced on Dec. 2 it will extend its foreclosure and eviction moratorium through Jan. 2021—the moratorium was originally slated to expire at the end of December.

Soooooo...

What happens then?

I'm guessing another extension, that's the logical conclusion in today's world.
So let me put the question to y'all this way - what happens when they finally decide to let it expire?
 

Uglytruth

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what happens when they finally decide to let it expire?
Maybe it won't. Seems an easy way for big .gov to pay off a hurting landlord & keep people in public housing........ where they make the rules..... like vaccines.
 

Thecrensh

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The Pandemic Has Broken Shale and Left Oil Markets in OPEC Hands

The Pandemic Has Broken Shale and Left Oil Markets in OPEC Hands
Kevin Crowley, David Wethe and Sheela Tobben
Sat, November 28, 2020, 6:00 AM CST


(Bloomberg) -- OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years the shale boom won’t be at the top of the list.

A devastating global pandemic and a reckoning with Wall Street appear to have broken the resolve of the shale wildcatters who turned the U.S. into the world’s biggest oil producer. Years of breakneck growth, at the expense of crude kingpins in the Middle East and Russia, have come to an end. If there was ever any doubt, it’s now abundantly clear who has the upper hand in the global oil market.

“In the future, certainly we believe OPEC will be the swing producer — really, totally in control of oil prices,” Bill Thomas, chief executive officer of EOG Resources Inc., the biggest independent shale producer by market value, said earlier this month. “We don’t want to put OPEC in a situation where they feel threatened, like we’re taking market share while they’re propping up oil prices.”

The shale industry’s prudence, also echoed by the CEOs of Pioneer Natural Resources Co. and Occidental Petroleum Corp., means that production will probably flatten after a steep plunge this year. U.S. oil output will end 2021 close to 11 million barrels a day, about the same as it is now, according to forecasters IHS Markit, Rystad Energy, Enverus and the U.S. Energy Information Administration.

“I see no more growth until 2022, 2023, and it will be very, very light in regard to the U.S. shale industry ever growing again,” Pioneer CEO Scott Sheffield, who’ll run the fourth-largest shale operation in the country after his company completes the takeover of Parsley Energy Inc., said in an interview.

That will surely come as a relief to OPEC and its allies.

At the start of 2020, the group’s efforts to control prices were facing increasing difficulties. The breakthroughs in horizontal drilling and fracking that ushered in the shale revolution made it look as though U.S. production growth might never end.
Output surpassed 13 million barrels a day for the first time in February.

Then Covid-19 hit, people around the world stopped driving and flying, and the oil market crashed. President Donald Trump brokered a historic deal with OPEC in April to remove almost a 10th of global production from the market. He said the U.S. contribution would come in the form of market-driven cuts.

That pledge was delivered faster than most predicted, and it made a huge difference. Investors who were already tiring of the shale industry’s cash-burning spree retreated from the sector, and several producers went bankrupt. Before the summer was over, U.S. output had collapsed by 3.4 million barrels a day, almost the same as removing the United Arab Emirates at peak production.Output from shale wells typically declines in a matter of months, so new ones need to be drilled and fracked just to maintain production at current levels. A recent uptick in drilling and fracking doesn’t seem to be enough to ensure production growth.

Since hitting bottom in the summer, the number of rigs searching for crude in shale fields has increased by 69 to 241 this week, according to data from Baker Hughes Co. That’s still down from 683 in March. Similarly, the number of fracking crews in the once vibrant Permian Basin straddling Texas and New Mexico has increased to 63, an improvement from a meager 20 in June, data from Primary Vision Inc. show. But that’s less than half the 146 teams that were pumping mixtures of water, chemicals and sand into wells in January to release oil from shale rock in the area.

It’s as though the U.S. suddenly went from being a thorn in OPEC’s side to being an unofficial member of the cartel’s alliance with Russia and other producing nations. Since June, benchmark U.S. oil prices have been remarkably stable, hovering around $40 a barrel, and that’s how OPEC likes it.

Now, when the cartel meets in a virtual gathering Nov. 30, and the broader OPEC+ alliance on Dec. 1, they’ll probably be more focused on the pandemic’s impact on fuel consumption. Most of the crude the group removed from the market has already been successfully brought back without any turmoil.

While shale’s retreat has made OPEC’s life easier, for the U.S. oil industry it’s been brutal. There have been 43 bankruptcies of exploration and production companies this year through October, according to a report from law firm Haynes & Boone.
Shale may be down but it’s certainly not out, though. The U.S. is still an oil superpower, and will remain so for years to come. And there’s always the possibility that higher prices will get explorers drilling and fracking relentlessly like before.A sustained price rise to $50 a barrel will “trigger growth again,” according to Bernadette Johnson, vice president for strategy and analytics at Enverus. At $60 a barrel, U.S. shale will come back strongly, she said.

The oil market received a boost this week as AstraZeneca Plc became the third drug company to show promising results from a trial of its coronavirus vaccine. That helped push prices in New York above $45 a barrel for the first time since March. If other pieces of bullish news take prices to levels that would encourage growth in shale, even if temporarily, producers could seize the opportunity to lock in prices with hedging contracts. That’s a risk OPEC+ will have to consider.

Whether investors will be willing to bankroll shale anew is another question. Before Covid-19, the industry was already buckling under high debts and shareholder discontent. Shale producers burned through about $342 billion of cash since 2010, Deloitte LLP said in June.

Another unknown is what titans Exxon Mobil Corp. and Chevron Corp. will choose to do next year. Both slashed capital budgets by around a third this year, with the biggest cuts coming from U.S. shale.

"Crucially, OPEC+ does not have to battle for market share just yet,’’ Natasha Kaneva, a commodities analyst at JPMorgan Chase & Co., said. “After six months of minimal capital spending, U.S. shale production will remain constrained.”
So now we'll be back in the hands of OPEC nations....which China probably wields great influence with...
 

Scorpio

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fyi, dollar broke below 90 today,

that is a pretty big deal,

I mentioned that if the prior support was taken, it would be a rather swift downswing,

it has been, and now the 90 didn't even stop it
 

oldgaranddad

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fyi, dollar broke below 90 today,

that is a pretty big deal,

I mentioned that if the prior support was taken, it would be a rather swift downswing,

it has been, and now the 90 didn't even stop it

The price of gold says Yawn! Played that stupid game before and lost because it was rigged.
 

Scorpio

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true dat
 

HistoryStudent

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The price of gold says Yawn! Played that stupid game before and lost because it was rigged.

Like in SILVERADO Kevin Costner "Yes, that same thing happened to me - that's why we are in the cell together." Paraphased

However, think back if you can to 2003 ish when gold finally topped $300.00....

I was on a cruise to somewhere - and that was a big deal for me. Silver was cheap then - and when disembarking ran to the G & S store - and I bought lots of green boxes .... Plus lots more of gold...

Now maybe perhaps pretty please the big boys are playing hardball with the price...

I read that GLD has made a big change too... no more physical...

Do IT for the GRIPPER -
Hit one over the left field fence Babe -
have some fun we feel like we're all cooped up for some reason...
 
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Scorpio

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silly season strikes again,

stocks on the open last evening flat, now down a good amount,

metals opened flat to down, then came roaring back to up, and now gold down with silver hanging out around flat

the usd, after breaking that 90 level, now jumping back above this am, with an almost full point reverse to the up this am, around 90.84

things are on the move with the newz of a stimulus deal, large one at that

again with the trillions
 

solarion

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again with the trillions
Each injection of funny munny does less and less to forestall the inevitable. Like a junky that needs to continuously score more smack...

1608568107085.png
 

Scorpio

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fyi, after taking a brief break, lumber it kicking it to the up again in usual off season,
as the housing market goes full tilt

still no real break in housing pricing and availability as interest rates have the mills coming out of mommies basement and having a look around

double top in play right now though, so we see if it is new highs or it is capped

this is a weekly chart, keep that in mind

1.png
 

BarnacleBob

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Regulators warn banks against using Libor in new contracts

“Given consumer protection, litigation, and reputation risks, the agencies believe entering into new contracts that use USD LIBOR as a reference rate after December 31, 2021, would create safety and soundness risks and will examine bank practices accordingly,” the regulators' statement said.

https://www.nationalmortgagenews.co...al&utm_source=facebook&utm_content=socialflow
 

Scorpio

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re lumber,
avg shack had added quite a bit to the costs with just lumber

had a person ask me if they should wait until next year or?

told them you have to understand how this works. There is a great number of large ticket items in play and in construction. Lot of demand for wood.

and those large projects already have ooodles of dough tied up before they ever get to framing it, with land/architects/engineering/city planning/etc. They have been in process for quite some time, and they aren't going to pull the plug for wood increases.

so I said, unless there is a material change to demand, lumber prices are going to do what they do. After that they declined some, a nice correction, and have since went right back to their highs. Meanwhile, interest rates actually declined some, absorbing some of that increase.

The comment still stands, that without a material change, there won't be any real break in lumber prices for awhile. We are in a seasonal weak period for lumber, and yet prices are strong, real strong. To break this action to the up, interest rates will have to rise, economy enter a plunge, or the fiat going to these big outfits would have to dry up.

daily chart

1.png
 

BackwardsEngineeer

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Scorp,
I can say I have almost daily emails from the nationals offering buyer agent incentives, loading up my basket full of them. Sometimes 2x normal rate, in a couple of cases, 2x plus a 25k kicker if closed by 12/31...! Much speculation this is just political rotation stuff, my spider senses are tingling and my plan is to get what I to do closed by June.... Ron popiel set it and forget it.....
 

Scorpio

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yeah, was thinking of that,

stocks have been non stop to the up with the coming tsunami of 'stimulus' funding,

there have been no reservations regarding the election of any type,

yet there is the constant din of other countries shutting down in one form or another,
that cannot be good for worldwide activity

as you say, this smells to high heaven
 

Scorpio

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for now,

gold has given back all of its gains and hovering around unchanged,
2nd time in a week gold got over 1900 but couldn't stick the landing

silver had held on to some of its gains, but well off the highs from around midnight or so

whereas shitcoin continues to move real strong and over 27K