Thursday, September 25, 2014

Wall Street Whitey pees panties, suddenly likes gold again


Well well well.


Wall Street Whitey looks scared today. That sure is a big candle already, especially after such a big down candle yesterday.

And look what happens when Wall Street Whitey is scared:


Well well well!

Wall Street Whitey is selling SPY and buying GLD, eh?

I thought gold was going to $0? That's dumb to buy an asset with no yield, a carrying cost, and no inherent value beyond what the next fool is willing to pay, eh?

I wonder what inspired this?

Maybe the US dollar is collapsing and oh wait


Nope, USD is still up.

And gold is up despite USD being up.

Wait, I thought gold moved inverse to USD? I thought USD had any importance to gold whatsoever?

Well well well.

In the words of a great philosopher*:
It's a turvy-topsy world.

Also,
It is a sham, but it's a sham with yams. It's a yam sham.



*- Buffy the Vampire Slayer

3 comments:

  1. A great philososher once wrote, "Naughty naughty, very naughty".

    https://www.youtube.com/watch?v=YFJdUJg4wOk

    Still trying to work out if there's a subliminal second meaning to that song.

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  2. Wall Street Whitey buys by the tonne, Asia Al buys by the ounce.

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    Replies
    1. Wrong, comet. Wrong in these very significant ways:

      1. Wall Street Whitey *sells* by the ton.
      2. He sells paper contracts by the ton, not physical.
      3. He has to buy back what he sold before OpEx to convert to the next month, so he can't sell to infinity.
      4. Oh sure, Asian people buy by the ounce, or even by the gram, no argument there. But there's 3,000,000,000 of them, and once you sell them that gold it doesn't come back to market.

      To da moon Alice!

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