stock market ride

The Fed is completely full of shit. It is terrified of the conditions it has set up and it has no idea what to do next. The “data” that it claims to be so dependent on is arrantly fake.

An interest rate rise of one percent, would drive the annual US debt higher by $190 billion.

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ETF inflows into the US stock market are downright explosive.  TrimTabs published a recent alert discussing the massive inflow of capital.  We are seeing money flows dancing to differences in monetary policy and currency zones.  Click here for examples playing out this morning. TND colleauge Dave Kranzler has more:

nonsequiter

The Census Bureau reported that its advance estimates of retail sales for November show a .1% gain from October and a 3.8% gain over November 2015. Wall St. was forecasting a .4% gain. Oops. But there’s a bigger problem…

TND Guest Contributor:  Dave Kranzler

Haruhiko Kuroda, is the 31st and current Governor of the Bank of Japan.

The Bank of Japan signaled it will keep loose monetary policy while the perception of tightening monetary policy by the Federal Reserve dominates market expectations. Off to the races! The yen started to swan dive against the dollar, and euro dives after terrorist attack.

SD Metals and Markets

Without warning, the US Mint advised authorized purchasers that 2016 year silver eagle production is suspended and no further coins will be available until 2017.  Precious metals fund manager Dave Kranzler joins Doc and Eric Dubin to forecast the market impact, the chaos going on in the bond market and India’s ban of 1,000 and 500 rupee notes

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Gold was pushing $1230/oz overnight, as the methodical take-down of gold and silver in the NYC and London paper markets has triggered an avalanche of demand for physical gold in the eastern hemisphere.

yellen

Market managers managed to yank an additional $9 out of gold off of this week’s low. As I wrote yesterday, this is going to be short-lived. The Fed’s interest rate normalization playbook is now well understood.

dystopia

On Monday, I published an article (click here) and additional Facebook posts (click here) explaining that we were inside a 24 hour window where precious metals were likely setting a bottom.  Upside momentum has faded and bullion manipulators are going to try to pressure prices downward.  So far, the bottom has held but Thursday and Friday are key and Fed Chair Yellen is speaking before Congress on Thursday.  December will see a 25 basis point Fed Funds rate hike, and this is already priced into the precious metals market but that doesn’t mean the market will not be attacked on Thursday!  If we get an attack timed in association with Yellen’s Congressional testimony, it should be short-lived.

Jason and I recorded WTD #29 last Monday, after the New York market close.  – Eric Dubin

fed-reserve-450x382 federal reserve

Out with the old, in with the old.  Wall Street and  the Fed wants to make nice with Trump so as soon as he accepted the next Presidency, the market manipulators went to work on pushing stocks higher and gold lower.