Thursday, December 17, 2009
JIM SINCLAIR COMMENTS ON RECENT DOLLAR ACTION AND OTHER ELEMENTS OF THE MANIPULATION NOW OCCURRING
FROM JSMINESET.COM THURSDAY 12/17/09
This morning when the opposing members of the Chairman of the Federal Reserve confirmation committee were speaking, their faces were shown with lips moving but no sound. There were over-spoken by the F-TV so the net result is you did not hear one word.
Well that should go some distance to tell you the smoke and mirrors that underlies the dollar rally that money managers and F-TV have talked themselves into. Once the gossip gang had decided that the unknowable Carry Trade had become as the professor said, the Mother of All Carry Trades, luncheon discussions turned to when and how high the New Year’s rally in the US dollar is going be.
The euro has been talked down from the $1.52 level by those that had established very large shorts in the same manner that we are all used to. The employment figures changed a statistically insignificant amount and the MOPE machine went to work.
Gold of course came down inversely to the stronger dollar.
The question now that the USDX has appreciated above the .77 level is what fundamental legs are left after the weak hands are ejected? You need to know that FOREX houses have come on to that focus on Gamma’s account at 500 to 1 leverage.
The rub in the conclusion that there are little to modest legs in this short squeeze is because the Fed is dedicated to maintaining low short terms rates as they definitely understand the Peanut Brittle recovery. The highly professional and well financed money managers will not abandon the utilization of the dollar as a carry currency, having once again gotten the Fed’s green light.
Fundamentally 10% unemployment would delight the markets, but what a hell of weak basis upon which to anticipate any major recovery in a consumer driven Western economy.
If you can stand the heat in the gold kitchen it will protect you from the madness of monetary mismanagement, rulership of the banksters and capitulation of FASB. The alternative is to buy the dollar and get a spiritual experience without the need for a guru in the not too distant future.
This morning when the opposing members of the Chairman of the Federal Reserve confirmation committee were speaking, their faces were shown with lips moving but no sound. There were over-spoken by the F-TV so the net result is you did not hear one word.
Well that should go some distance to tell you the smoke and mirrors that underlies the dollar rally that money managers and F-TV have talked themselves into. Once the gossip gang had decided that the unknowable Carry Trade had become as the professor said, the Mother of All Carry Trades, luncheon discussions turned to when and how high the New Year’s rally in the US dollar is going be.
The euro has been talked down from the $1.52 level by those that had established very large shorts in the same manner that we are all used to. The employment figures changed a statistically insignificant amount and the MOPE machine went to work.
Gold of course came down inversely to the stronger dollar.
The question now that the USDX has appreciated above the .77 level is what fundamental legs are left after the weak hands are ejected? You need to know that FOREX houses have come on to that focus on Gamma’s account at 500 to 1 leverage.
The rub in the conclusion that there are little to modest legs in this short squeeze is because the Fed is dedicated to maintaining low short terms rates as they definitely understand the Peanut Brittle recovery. The highly professional and well financed money managers will not abandon the utilization of the dollar as a carry currency, having once again gotten the Fed’s green light.
Fundamentally 10% unemployment would delight the markets, but what a hell of weak basis upon which to anticipate any major recovery in a consumer driven Western economy.
If you can stand the heat in the gold kitchen it will protect you from the madness of monetary mismanagement, rulership of the banksters and capitulation of FASB. The alternative is to buy the dollar and get a spiritual experience without the need for a guru in the not too distant future.
DAILY CHART OF THE EURO
THE MANIPULATORS HAVE TO DRIVE DOWN THE
EURO WHILE THEY GOOSE THE DOLLAR AT YEAR
END SO ALL THE FINANCIAL CROOKS CAN SHOW
SOME FRAUDULENT PROFITS ON THEIR BOOKS
GOLD MOVING UP IN EARLY EVENING TRADING
IT WILL BE INTERESTING SEEING WHAT GOLD DOES
FROM HERE THROUGH THE CLOSE ON FRIDAY AHEAD
OF THE XMAS WEEK WHICH USUALLY HAS THIN
VOLUME. THIS YEAR XMAS WEEK TRADING COULD BE
VERY VOLATILE AHEAD OF THE END OF THE YEAR.
I EXPECT GOLD TO SOAR IN THE FINAL WEEK ESPECIALLY
WITH THE GOLD PRICE AT SUCH DEPRESSED LEVELS.
THIS YEAR END BLOWOUT HAS HAPPENED EVERY YEAR
FOR AT LEAST THE PAST FIVE YEARS AND THEN RALLIES
STRONGLY UNTIL MARCH
ANOTHER NEW LOW IN EARLY AFTERNOON ELECTRONIC TRADING
LESS THAN ONE HALF HOUR TO GO BEFORE THE
AFTERNOON CLOSE AT 2:15PM PST AS GOLD RISES
FROM THE NEW LOW JUST MADE AT 12:57PM PST
AT 1095.7
ANOTHER NEW LOW ON STRONG VOLUME
EVEN IF THIS ISN'T THE LOWEST LOW, BUYERS
DOWN HERE ARE GOING TO BE VERY HAPPY NOT
TOO LONG FROM NOW
THE LARGER PICTURE
GOLD HAS PULLED BACK TO THE 61.8% RETRACE POINT
AND IS BUILDING A BASE HERE TO MOVE BACK UP
GOLD MOVES LOWER ON THE CRIMEX OPEN BELOW THE YELLOW LOWER UPTREND CHANNEL LINE TO THE THIN BLUE LOWER DOWNTREND CHANNEL LOWER LINE
GOLD STARTING TO RALLY HERE ON GOOD VOLUME
GOLD DROPS MORE AHEAD OF THE CRIMEX OPEN
THE YELLOW UPTREND CHANNEL LOWER LINE
IS THE NEXT SUPPORT AREA, AFTER THAT, IT'S THE
LOW AT 1110
DOLLAR UP STRONGLY, BY WHAT LOGIC?, GOLD MOVES BACK DOWN
EURO DOWN OVERALL
STOCKS MOVED LOWER BUT JUST RALLIED
YEN TRENDING LOWER
OIL BACK UP TO THE 73s
XMAS HOLIDAY TRADING SHOULD BE EXCITING
AND ANYTHING BUT THIN MARKETS
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