An Encouraging Thursday

260
Thu, Sep 8, 2011 - 5:10pm

It what can only be construed as encouraging action, gold flew back higher today, nearly to the level it was before the blatant manipulation of Wednesday. I'll be very interested in the OI numbers tomorrow to see if today was primarily due to continued short covering by The Cartel.

I'll find it quite amusing if it was. To think that the SNB deliberately tried to manipulate gold lower only to be thwarted by the greedy, frightened, short-covering Cartel is wonderful to consider. Sort of like having your two worst enemies declare war upon each other. I'll stay happily on the sidelines while I giggle at my good fortune. At the end of days, survival instinct kicks in and everyone turns on each other. Perhaps that's what we're seeing here.

Regardless, The Turd is quite pleased with where we stand at this moment. Absent margin hikes or further intervention, the PMs look certain to trade higher this evening and into the overnight. (President O'bottom discussing the idea spending more money that we don't have should help provide the bids.) IF they can survive the usual 3:00 am LBMA beatdown, they will be poised for a stellar day tomorrow. Perhaps they will even finish with a green candle on the chart.

And if you haven't read this yet, I suggest you do it now. There's no sense in me commenting on it as I would imagine you can easily envision what I would say. (Something like "duh" or "ya think?" comes to mind.)

https://www.zerohedge.com/news/goldman-head-gold-trader-speculates-about-authority-intervention-gold-sees-gold-pushing-higher

Have a great evening! TF

About the Author

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  260 Comments

CreditCrumbs
Sep 8, 2011 - 7:01pm

China asking for a free ride

"General Motor’s Chevrolet Volt is currently the only car of its kind on the market anywhere in the world, and China knows that, which is why the government is attempting to get GM to cough up key proprietary information about the Voltec powertrain in exchange for making the Volt qualify for sales subsidies, according toThe New York Times.

China has long had a unique way of doing business within its borders: if you (as an outside company) wish to build and sell goods in the country, you must partner with a Chinese firm in order to do so. It doesn’t take a genius to see what China is doing – they are leveraging the fact that they are one of the largest markets in the world to take advantage of the research and development already done by outside companies.

As a result, Chinese firms can glean information from their “partners” and save millions, if not billions of dollars and countless years of research, closing the technology gap with outside competitors.

Enter the current battle underway, as China tells GM that if it wants customers to be able to qualify for subsidies worth up to $19,300 when purchasing a Volt, the automaker must hand a Chinese partner company the secrets to at least one of the three core technological areas that make up the Voltec powertrain."

https://www.leftlanenews.com/china-pushing-gm-to-reveal-volt-technology-...

GM has no right to yield. It received a big infusion of capital by US taxpayers. They have an obligation to protect their intellectual property for the benefit of US taxpayers.

Which US presidential candidate is addressing this technology stealing issue? So far only Romney (and Trump if he runs as an independent).

¤
Sep 8, 2011 - 7:03pm

Doc...

...nice distracting question about the game tonight.

The Pack wins by 17.

Aaron Rodgers is great. I can't believe you hate the Pack but it's kind of cool also. No herd mentality for you I see Except the Turd Herd of course.

The Bills could only hope to be so good. We had our chances

TheGoodDoctor
Sep 8, 2011 - 7:04pm

Santa is now doing weekly

Santa is now doing weekly videos! Enjoy! And yay for Santa!

Video unavailable
Video unavailable
atarangi TheGoodDoctor
Sep 8, 2011 - 7:05pm

Turd is the new Nostradamus!

That does have a certain ring to it.

TheGoodDoctor
Sep 8, 2011 - 7:05pm

@DPH Well guess what? We have

@DPH Well guess what? We have something else in common. Both of our teams have lost the Super Bowl 4 times! I'm a Vikings fan DPH!

33 and a turd
Sep 8, 2011 - 7:07pm

Obama and co

Why can they not just go about their business without the grand entrance and sycophantic greetings?

silverbonz
Sep 8, 2011 - 7:07pm

When???

So when is the flotilla to occur (I didn't catch it in the article)? Seems like a game of chicken has to play out there, which at the very least would catch some major headlines and move the markets. At worst this could be THE Black Swan event as DPH stated. Interesting times we live in.

33 and a turd atarangi
Sep 8, 2011 - 7:09pm

Nosturdamus?

sound good?

Shill
Sep 8, 2011 - 7:13pm

Notice the Purple Ties folks.

Notice the Purple Ties folks. Union Douche bags.

= Douche bag.

¤
Sep 8, 2011 - 7:17pm

8 Super Bowl losses between us...

We'll make up for it in the PM's at some point on our own

Thanks for those Santa vids

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