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Beating Of The Drums

by Andy Hoffman, Miles Franklin:

Well, it doesn’t get more obvious than this! Clearly, the status of the “200 week moving average war” has been taken to DEFCOM 1; as without question, Friday’s dual “super PiMBEEB” events – i.e., Trump’s “surprise” Syrian attack; and one of the worst NFP job reports in memory – put the Cartel’s all-time high silver short position, which I discussed in this weekend’s MUST READ article, in serious jeopardy; as unquestionably, hundreds of billions of momentum-seeking capital is watching for an upside breach of these key resistance levels, for confirmation of the time to re-invest. Not to mention, the major post-election support level of 2.31% on the benchmark 10-year Treasury bond; which early Friday it briefly traded below, before the Cartel and PPT raced in to temporarily stave off their respective “executions.”

Then, following a weekend of loudly beating “war drums” – not to mention, the digestion of the hideous ramifications of Friday’s jobs report; this, in the wake of the Fed’s “GDP Now” forecast for Q1 having been reduced to just 0.6%; the Cartel came out with guns blazing today – starting with the 180th “Sunday Night Sentiment” paper raid of the past 190 weekends, followed by the 822nd “2:15 AM” EST raid of the past 940 trading days – in both cases, launched via a prototypical “Cartel Herald” algorithm”; and finally, two New York pre-market “waterfall declines,” in both cases with no other market materially moving – followed by a third at the 9:30 AM EST NYSE open.

Heck, both interest rates and the dollar index are lower this morning – and falling further, as I write. In silver’s case, the price is now “safely” in the $17.80s – which I say in quotes, at it could recover its fraudulently lost ground in the blink of an eye. As for gold, it is currently trading at $1,251 – having recovered from its low of $1,246, following yet another abysmal Fed Labor Market Conditions Index reading; to the Cartel’s chagrin, still above its 200 WMA – of what do you know, $1,246/oz.

And for anyone that actually believes the unprecedentedly rigged markets are “signaling” anything other than their own fraudulence, consider the following, damning charts of the dire state of the dying U.S. economy – starting with the first six-month period of negative commercial and industrial loan growth since the dotcom bubble implosion, and the 2008 financial crisis…

Read More @ MilesFranklin.com

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