Futures slip as China plunges 8.5% Jul 27 2015, 07:16 ET | By: Stephen Alpher, SA News Editor Shanghai gave up 8.5% overnight as questions emerge about how much longer Beijing can prop up the collapsed bubble. Hong Kong tumbled 3.1% and the Nikkei 1%. Europe's lower by about 1.5%.
If this scenario plays out Get ready to relive the 2008 crisis: Albert Edwards http://www.cnbc.com/2015/07/30/soci...ards-get-ready-to-relive-the-2008-crisis.html Then why isn't this possible? Gold to 13000 It sounds ludicrous, but I have seen stranger things.
Schiff talks about perception as to what will make the difference. What if people wake up and see that gold is just a perception of the store of value because it is rare? That its value is psychological due to a historical accident? Otherwise, it is a yellow rock. The only real store of value are people and their intellect, through the sacrifice of their time so they can be of service to one another. You can't buy people and put them in a bank. Economists will one day look back at our world and scratch their heads. How can any amount of gold buy a human beings extraordinarily short amount of time on Earth? The rabbit hole runs deep. Of course, that doesn't mean the psychology won't play out.
Gold at 13000 sounds pretty ludicrous. There's probably all manner of things which would kick in before that. Personally I've just given up trying to trade GC, too many bad trades and other BS happening with it. I don't have a good read on it.
The key level is SPX 2042. I sell 2042, and stay cautious through 2032. So I might be a nervous short between 2042 and 2032 so that my risk tolerance will be tight, going short and neutral back and forth leaning heavily to staying short. But I feel great being short as the SPX breaks 2032 because 19xx is then almost certain.
PBOC sharply cuts yuan against US dollar after weak data http://www.cnbc.com/2015/08/10/rply-depreciate-to-yuan.html
I think this is exactly why the FED hasn't raised rates in an eternity. There is a vicious currency war going on...
I doubt it's all "Oh that darn pesky dollar, you so strong!" in the Fed compound - I'm sure they're part of it as well.