Something Wicked this Way Comes (Again-Thank you Banksters!)

by John Galt

November 27, 2009

Needless to say on this day of eating, giving thanks and eating, we were all getting fatter, dumber and happier while the rest of the world chugged on and announced their problems into the vacuum of the American financial media. Well, the Internet has guaranteed this void has been filled and the news is disturbing. I’m going to post two charts that tell the tale of the problems we are about to witness and endure. The first chart, the ETF UUP, indicates that if we don’t get a short to intermediate term recovery, this sucker is heading downtown and big time. The Dubai crisis might just save the dollar thanks to our friends in Europe taking it in the shorts from this crisis but the U.S. will not go unscathed thus why there were lights on at so many banks and trading desks today.

UUP18MONTH

The second chart is that of our 2 year Treasury Yield and folks, we haven’t been here since, well, see for yourself:

US2YTY18monthTonight the yield is 0.66%, 1 beep above the disaster of last winter.

Buckle up gang and get ready for Benron and Geithner to pay lip service and proclaim all is well.

That worked out real good for the employees at Lehman, WaMu and the United States Taxpayer last year, didn’t it?

0400 update:

11_27gold1day

As you can see from the chart at about the time the Arab region markets opened, someone sold a buttload of gold. That is your tell tale sign of someone in desperation attempting to raise cash quickly. While this is a volatile number the 2 Year Treasury yield is now 0.63% a new low since these series of crisis have begun. Stay tuned, this will not be a dull day.

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8 Comments

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8 responses to “Something Wicked this Way Comes (Again-Thank you Banksters!)

  1. KEIKO

    HAPPY THANKSGIVING.
    THANKS FOR YOUR GOOD ANALYSIS.
    I WAS TAKING A LATE NAP AND WOKE UP AROUND 11:47 PM(PST). THEN, I CHECKED MY PLATFORM TO SEE HOW GOLD SPOT PRICE IS GOING ON. WHAT I FOUND OUT IS GEEEEEEEEEEEEEEEEEEEE!!!!!!!!!!!. I CALLED MY FREIEDN TAKING THANKSGIVING HOLIDAY IN VEGAS WITH FAMILY IN THE MIDDLE OF THE NIGHT. I SAID TO MY FREIDN GOLD IS FALL DOWN AROUND $40 JUST IN HOURS WHILE I FELL ASLEEP!! WHAT A HECK IS GOING ON?? MY FRIEND SAID I LOST $520K. WE THOUGHT CHINESE IS BUYING GOLD NOW. THEY BUY ANYTHING GOOD AT CHEAP PRICE. I STILL DON’T UNDERSTAND WHY GOLD PRICE WENT DOWN RIGHT AFTER USD FELL AGAINST JPY. I EXPECTED GOLD MAY HIT $1,200 ON FRIDAY.
    I AM A BIGINNER OF GOLD INVESTING, SHOULD I NOT BE IN THIS MARKET? I AM SO SCARED. MAYBE I SHOULD BUY FOOD MORE AND STAY AT HOME?

    • Administrator

      If you’re scared, sell enough to protect your principle. If you have it in paper, take it in physical delivery. Either way it is nothing to lose sleep over yet. We have been due a correction to the $1020 to $1040 range for over a month now.

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  3. John

    US mint halts sales of gold and silver eagles

    is this true? where and how can you buy gold?

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  5. Chris

    JOHN

    You can buy physical online at kitco.com (overpriced IMO).
    Best deal is local coin dealer. Coin dealers are everywhere and you can find a gold and silver eagles priced much lower than premium an online dealer will charge you.

    http://www.coinshows.com/ (There are many shows and dealers that are not listed by coinshows.com. those are just a sample) Like anything else just start punching numbers and asking around and you can get what you want for a fair price. As of 9:40EST a local coin dealer quoted me $1210 for a gold eagle 1oz. At Kitco.com right now it is $1261 not including shipping.

    Also something to consider if you are buying large quantity …

    http://www.irs.gov/pub/irs-pdf/f8300.pdf

    http://www.cmi-gold-silver.com/gold-confiscation-1933.html

  6. Van

    Hey John,

    Just wanted to stop in and say keep up the good work.

    The chart breakdown is nice to have, and one that I haven’t see yet. I feel like so many people are not paying attention to the warning signs, having someone lay out the dangers in a visual manner is always a plus.

    Also, I loved the death of the dollar series.

    Cheers!

  7. Great post and blog. I recently came across it for the first time through your Day the Dollar Ended Series, which are excellent. I have recently added you to the blogroll on my own blog. My latest post deals with the history of US debt in recent decades, looking just at the raw data, and how it is rationally evident that this Ponzi scheme that has been building up for decades built on nothing but FAITH, will come crashing down.

    http://www.debtorsprisonblog.org/journal/2009/11/28/a-visual-history-of-how-us-treasuries-became-worthless.html

    Anyway, great work, keep it up, I will be following.