Psssh. He would say "When you want to talk about markets, instead of legalized organized crime operations, you let me know."Originally Posted by Krugminator2
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
i predict they will go back up this morning .
Do something Danke
Exactly. It reminds me of what Ayn Rand wrote about antitrust laws:
"The concept of free competition enforced by law is a grotesque contradiction in terms. It means: forcing people to be free at the point of a gun. It means: protecting people’s freedom by the arbitrary rule of unanswerable bureaucratic edicts."
Inflation is at least the highest since 2008 and rising . Used cars rose 10 percent in April , US housing 13 percent last yr, I would expect more this yr . 62 currencies have been destroyed by inflation in the past. Silver and copper inventories are depleted .Meat prices through the roof , gasoline already back to 3 dollars a gallon. I'm expecting gasoline , diesel and food to rise this May through summer .What is next ? The Dow looks headed to 35K yet silver sits at 27 1/2 and gold 150 off the all time high while the national debt will have more than tripled in the past 13 years by end of the yr none of which really makes that much sense . Productivity isnt really going to be increasing or the labor force participation. Are these sound economic times ?
Last edited by oyarde; 05-14-2021 at 10:06 AM.
Do something Danke
Hahaha, Krugminator's definition of "free competition" is private central banks printing up currency and handing it to member banks to finance the expansion of monopolies and bureaucratic power. Any mention of Mises approving of anything related to current "markets" is utterly absurd. The man died immediately after the gold standard was formally ended. The organized crime system we're experiencing now is exactly what he opposed.
Last edited by devil21; 05-14-2021 at 10:43 AM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
I have no idea what the first sentence even means.
Markets today are infinitely more competitive and on a far more level playing field for the average person than when Mises was alive. The amount of market manipulation is probably 1/1 millionth what it was in the 1920s. Maybe learn some basic market history. Remininsces of a Stock Operator will fill that gap and also make you a less $#@!ty trader so you won't need to whine about about unfair things are.
Last edited by Krugminator2; 05-14-2021 at 12:49 PM.
Sure, a handful of market makers moving the entire market around wherever they want on a daily basis, while sycophant media explains it away is totally so much more competitive and less manipulation. Whenever the narrative is upended there's always the PPT/ESF computers at the NY Fed to right the ship. Whenever that isn't enough, just turn it all off with the click of a mouse a la GME. Yep, sounds so very less manipulated than when it actually took people to comprise a market.
LOL $#@!ty trader? I barely put any money into this organized crime ring. I've learned that the only purpose is to steal as much as possible from people individually and collectively and steal it as quickly as possible. Last year I turned $140 into $5k in March but gave it all back thanks to the ESF and illegal Fed SPVs. This year I made an excellent move buying GME before the squeeze. But...I should have known the pirates wouldn't allow the little guy to break the bank. So far, most of my "$#@!ty trades" boil down to Wall St manipulation and outright corruption, not making bad trades.
"The markets exist to separate the people from their fiat. It exists for no other reason." - Rofschild
-Just look at this week's index charts to see mass theft in action.
Monday-Tuesday = INFLATION! HEAD FOR THE HILLS! SHE'S COMING APART! BUY PUTS AND SHORTS! CORRECTION'S HERE!
Wednesday = Economic Reports? What reports? Inflation isn't a big deal.
Thursday-Friday = Inflation? What's that? Green candles baby! (Sorry about those puts but thanks for the cash. - Love, Ken Griffin)
(rinse and repeat next week)
Last edited by devil21; 05-14-2021 at 01:59 PM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
West Texas Light Sweet Crude closed yesterday at 63.82 down 2 1/4 and Brent Crude at 67.05 also down 2 1/4 but the one yr oil forecast was still 73 which might be low. You get used to that forecast being kind of an optimistic oil investors dream and forget it could be real . Nat gas still 3 , heating oil still 2 then and copper today still 4.65.
Last edited by oyarde; 05-14-2021 at 02:22 PM.
Do something Danke
I agree that we should not have a central bank and that printing money is out of control. No one on this forum has posted more about that than me.
I disagree that the markets are "fixed" and it's all a big conspiracy. The markets are not fixed but they are starting to reflect the amount of printing over the last 12 years.
It's not a deep dark conspiracy committed by "them". It's a natural, well known result of democracy. People vote for free stuff and politicians follow the path of least resistance, which is borrowing and printing money. And they're going to keep doing it until inflation rages out of control and becomes the number one problem politically.
With Gold reaching 1869 and silver 28 1/3rd today I'd say they are still at least 10 percent behind where I wouldve expected them to be based only under the spending and proposed spending this calendar yr . Oil was up about a buck when I looked earlier.
Last edited by oyarde; 05-17-2021 at 01:26 PM.
Do something Danke
I think one reason is that the US has been spending down their cash reserves by more than a trillion. I found an article that verified what I thought was happening. Right now borrowing is down because we're spending the cash we borrowed last year. That's why the deficit for this calendar year is like 1.5 trillion but the total debt is still at 28 trillion.
Plus if I remember correctly deficits are lower this time of year due to the tax deadline.
I have a feeling when we finish burning thru that cash, treasury yields are going to take off among other things.
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