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The Lunatic Fringe - Trading talk.

Zed

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Alasdair Macleod: “By smashing the gold price, bullion banks have reduced their short positions on Comex by $35 to $40 billion. If OI (Open Interest) had continued to rise from mid-Jan some of them would be bust. This is what it is all about. Is the smash over? Maybe. But the paper market game will never be the same.”

We will see about that... hopefully it is a watershed event in that market.
Bobby is on the offence. Bickering in the gold bug camp means that the pressure is on. Low?

http://www.321gold.com/editorials/moriarty/moriarty032120.html
 

Zed

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Goldhedge

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Ggsm appears to be a or be involved with a mining holding company across multiple continents. I can't wait for all the layers of this onion to be exposed, gonna be yuge.
Thanks for the research on this.

Just curious how you guys handle the income taxes on trades. Say you make $2000, what's the govt gonna take on short term cap gains?
 

Goldhedge

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Bobby is on the offence. Bickering in the gold bug camp means that the pressure is on. Low?

http://www.321gold.com/editorials/moriarty/moriarty032120.html
"You cannot have naked short selling in commodities, it cannot exist, remember, one buyer, one seller per contract. No naked short selling and certainly no naked long purchases. Comex default is another indication you are dealing with a fraud. You cannot have a default of any commodity contract. All commodities call for cash settlement if necessary."​

Then why does everyone 'see' more AuAg sold in minutes, nay seconds, on the market which has the effect of tanking the POG??

Are we all dreaming here?
 

Strawboss

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Thanks for the research on this.

Just curious how you guys handle the income taxes on trades. Say you make $2000, what's the govt gonna take on short term cap gains?
Here is how to become officially accredited as a trader by the IRS which makes all losses ordinary losses for income tax purposes and gets rid of the wash rule and the $3K loss limitation...

https://andersonadvisors.com/trader_taxation/

Keep in mind that even if you elect it and get approved by the IRS - it doesnt take affect until the NEXT year...
 

Zed

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"You cannot have naked short selling in commodities, it cannot exist, remember, one buyer, one seller per contract. No naked short selling and certainly no naked long purchases. Comex default is another indication you are dealing with a fraud. You cannot have a default of any commodity contract. All commodities call for cash settlement if necessary."​

Then why does everyone 'see' more AuAg sold in minutes, nay seconds, on the market which has the effect of tanking the POG??

Are we all dreaming here?
Bob is wrong on that front, he clearly misunderstands the term naked. Most short sellers don't have the metal to supply so they are naked, but most long buyers don't have the cash to complete so they are also 'naked'. The whole point of the futures market is for producers to sell something that they have not produced yet @ a price that will allow them to profit. It is insurance for commodity producers and it is a way of smoothing out and helping to regulated big commodity price swings. Not a bad idea... as long as you can control the potential for it to be abused. Maybe if you had to be a commodity producer to sell futures!

I dunno...?


CFD's sitting over a T+3 physical delivery market would be better IMO!
 

Zed

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Thanks for the research on this.

Just curious how you guys handle the income taxes on trades. Say you make $2000, what's the govt gonna take on short term cap gains?
Here realized gains/losses are netted out on an annual basis and taxed as income. For holdings that have been on the books for over 12 months you get to discount the income by 50%.
 

Strawboss

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Why is this feeling like a slippery slide into hell?

Because that is what it is...

Then you combine it with the venerable Hank Johnsons (the Guam tipping over guy) proposal to essentially ban guns and make ammunition more expensive than platinum...

George Orwell was right...its like a boot - stomping on your neck...forever...
 

Zed

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NSW and VIC Australia looking like they will be in lock down by Monday. Essential services only and no doubt movement restrictions of some sort.
 

Uglytruth

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Funny the entire world is locking down at the same time. Is the "virus" spreading at the same speed everywhere? :ponder:
 

Zed

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Funny the entire world is locking down at the same time. Is the "virus" spreading at the same speed everywhere?
It seems the reaction is the thing that is spreading!
 

Zed

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Third day of self isolation!

... everyone still alive.

...children driving us insane!

...please send help.

...can't last much longer!!!!!!!!
 

Zed

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Phew... your average GIMer is going to be just fine! Thank GAWD for that!

 

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It is interesting that the whole world is under quarantine
 

Zed

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It is interesting that the whole world is under quarantine
I know enough medical types that I'm going to get feed back on how busy our hospitals get with this thing. That will be a reality check.
 

Zed

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What is fascinating is the number of people who are just not fussed about it at all. I guess it comes from decades of the media over hyping damn near everything!
 

Zed

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Zed

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Very interesting Zed. Automakers are gunna be hit very hard here I was thinking of shorting GM from here.
I think TSLA is the one that is over the odds, but I'd be VERY careful... all this liquidity might catch and the rally will be fierce when it does!
 

Zed

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I'd buy you one if all the @#&*"ing Starbux weren't shut down around here.:Grrr:
It's gone into a shut down here as of a few hours ago. Essential services only... but of course there are a whole bunch of people scratching their heads about what exactly that means.

Plenty of small businesses wondering who is going to cover the rent!
 

Uglytruth

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I keep thinking about the NIKKEI chart and how long it has done nothing. Few of us have enough years left to ride that out. Might as well put in mattress or buy whatever you need to prep.
 

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It's gone into a shut down here as of a few hours ago. Essential services only... but of course there are a whole bunch of people scratching their heads about what exactly that means.

Plenty of small businesses wondering who is going to cover the rent!
Should be an announcement stateside in the next 24-48 hours about how our politicians intend to come to rescue.
 

dpong

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Politicos never had more power in their collective lives. A wet dream and a nightmare.
 

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It's gone into a shut down here as of a few hours ago. Essential services only... but of course there are a whole bunch of people scratching their heads about what exactly that means.

Plenty of small businesses wondering who is going to cover the rent!
This is one thing that bugs me about the Gerald Celente and even Martin Armstrong's take on this shutdown. Is this causing harm... certainly. But why is a 2-3 week shutdown so harmful? I'm kinda looking forward to everyone just slowing down for a couple weeks. How on earth does the world's largest or second largest airplane manufacturer go from $350 to <$100 and wanting a bailout because of a few weeks lost income? People have forgotten what it even means to save for a rainy day. Perhaps we need this reminder more often. I'm in favor of doing this shutdown once a decade, virus or not.
 

Uglytruth

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Just had a friend call. Said his dad was born in 1907 & lived through the depression. Said it was very EDUCATIONAL and to always be prepared.
Maybe the stupid people realize stick & ball sports and the kardashians ain't so important after all. TP, food, shelter is.
Maybe they learn China slave labor ain't the answer to corporate profits.
Maybe we learn we really are all in this together. WWGOWGA!
 

Zed

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This is one thing that bugs me about the Gerald Celente and even Martin Armstrong's take on this shutdown. Is this causing harm... certainly. But why is a 2-3 week shutdown so harmful? I'm kinda looking forward to everyone just slowing down for a couple weeks. How on earth does the world's largest or second largest airplane manufacturer go from $350 to <$100 and wanting a bailout because of a few weeks lost income? People have forgotten what it even means to save for a rainy day. Perhaps we need this reminder more often. I'm in favor of doing this shutdown once a decade, virus or not.
Well, one, it is unlikely to only be 2-3 weeks here. We are possibly looking @ months before we get this under control. Secondly that is way to long in an over leveraged economy, many things will break. In 1920 we'd have been in a much better position to do this, now much of the economy seems to be on a week to week basis.

If you are talking Boeing, then the MAX fuck up has ding them badly so this was just the last straw.

I think the massive debt in the system is the biggest issue, it was falling due to cause a problem without the nudge from a virus.