Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Gold Holding Up Well Despite US Dollar Strength

Commodities / Gold & Silver Sep 30, 2008 - 10:04 AM GMT

By: Mike_Paulenoff

Commodities Best Financial Markets Analysis ArticleStrangely, or counter-intuitively, the Dollar has strengthened (vs. the Euro) during a crisis precipitated by a US-derived financial and banking debacle! How could this be the case? Perhaps perceptions have emerged that Europe is in worse shape than the US? Perhaps in spite of everything, the world's investors still need to be in Dollars to access US Treasury paper? Or, perhaps, the Central Banks have coordinated efforts to support the Dollar during this financial panic to avert a Reserve Currency crisis too?


I really don't know what the reason is, although I do think the Dollar's strength is peculiar indeed. If anything, CONFIDENCE in U.S. backed investment paper of just about any grade should be of great concern to investors, institutions, and Central Bankers-- and to compensate for the slide in underlying confidence, gold purchases would seem to be the logical alternative.

Purely from a technical perspective, the enclosed comparison chart shows that DESPITE Dollar stength, gold prices are holding up extremely well, and have created a HUGE POSITIVE DIVERGENCE vis-a-vis the negative action in the Euro. For the time being, the relatively positive action in gold is telling me to remain long spot gold (the GLD) in anticipation of an upside breakout from its high-level consolidation between $920 and $860, which projects next to a test of the July high at $989.25. Only a decline that breaks $862 will compromise the still-positively divergent gold chart pattern.

Sign up for a free 15-day trial to Mike's ETF Trading Diary today.

By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction

© 2002-2008 MPTrader.com, an AdviceTrade publication.  All rights reserved. Any publication, distribution, retransmission or reproduction of information or data contained on this Web site without written consent from MPTrader is prohibited. See our disclaimer.

Mike Paulenoff Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Declaring Freedom
30 Sep 08, 13:02
Widespread Declaration of Freedom

Thank you for www.marketoracle.co.uk - a superb website.

http://www.scribd.com/doc/6317145/Widespread-Declaration-of-Freedom

Declaration of Freedom

Lovers of Freedom have continuously struggled against the forces of tyrannical control systems for multitudes of centuries in the ever deceptive and animated contest between the spirit of enslavement versus the spirit of liberty. When in the course of world events it becomes clear the world government has become deceitful, destructive, and murderous to a great extent - using any form of falsehood, manipulation of media, or theater as cover for an array of crimes - as well as for the next form of government, it is a matter of self-defense for the people of the world to throw off a corrupt system of globalized government enslavement, and with expediency set and widely announce another special date that will in the future echo worldly celebrations of the cause of liberty. Then the people should subsequently convene in large numbers on that date and also through the public global computing system of the time, for a convention of the people. The result of the open convention is to have authored, selected, and begun the implementation of a more protective system of shared rights, law, governance, and justice for the current and future generations of any nation.

The laws of a Republic should be written clearly in the form of a constitution. However when once trusted political figures individually or as a whole concert of corruption, or the distribution of wealth or establishment system as a whole, betrays the trust of the citizenry by operating outside of the rules and constraints listed in such a constitution, then the citizens of the broken republic should take the stated recommendations of the previous declaration of independence & constitution, along with methods of self defense, back into their own hands. More than responsibility, it is the most sacred duty of the spirit of liberty and justice for all.

By the year 2008, through a consistent stream of offensive actions, including 9-11-2001, the organization widely known as the “United States Government” has proven itself corrupt; and is literally bankrupting the working class of America while instituting fascist rule. It has become evident to multitudes of people of every nation that the current financial system is allied with a corrupt cabal of international profiteering, war-mongering, and so-called “illuminati” or “new world order”, interests. Therefore the “United States Government” has severely turned away from serving its original declared purpose. The “United States Government” has therefore failed and is de facto illegitimate as of the time of the announcement of this declaration, at the start of the new people’s convention. That convention date will formulate out of the people’s concensus.

Consequently, all of its previous authority over the citizenry is thereby removed by this declaration; and all freemasonic governments should be dissolved entirely by the great many world’s people. All existing mob-ridden governments over the individual and the municipalities should be fully dismantled, reinstituted, and rebooted with the next fully transparent, efficient, protective, and accountable system model which the open convention democratically selects. This progressive change of government should be enabled and empowered by the entirety of all national and returning armed forces together with all non-terminated local police and the widespread armed citizenry. This should be entirely voted for in a true 1-person-1-vote democratic and transparent form - as we always carry a vital responsibility to collectively choose what has control over our lives and what would ensure us maximum happiness.

As we acknowledge and sign this open-ended world-wide published declaration in multitudes, we pledge allegiance to each other. We are firm in our disassociation from the previous “United States Government” or any corrupt power. In unison We proclaim to disallow that organization to silence us, to control the mass media or the internet, to suppress us, to conduct experiments on us, to tax us, to bill us, to create - nor borrow paper money, to detain us, to imprison us, to legislate for us nor to adjudicate any proceedings, to terrorize nor genocide us, to direct our armed forces, to make war, or make agreements in our name, nationally or internationally. We are fully aware of our God-given rights including dissent.

Signed, X________________________________ Date of signing: _________/ 20___

Addendum: Initial action plan for the people’s convention

• Withdrawing our businesses and franchises from federal or state-wide taxation of the “United States Government” and its equally corrupt mother company, the United Nations and World Bank.

• Create a new fully accountable system of money and taxation commissioned by the improved freshly-chartered citizen’s government to: pay off all national debts, redistribute wealth fairly, fund the new government, and reinvigorate the economy.

• Establish a new passport identification, numbered as chronologically signed, and imprinted inside a new & improved Bill of Rights - to be made available for all listed and future citizen signatories of this declaration of freedom from tyranny statement; that anyone and everyone around the world is invited to recognize and support together forevermore.

• Close and refurbish Washington DC, and convert the former capitol into a city-wide orphanage and school campus for the nation’s underprivileged citizen children; dedicated in honor of patriots who lived bravely before us and without shame.

• Build a beautiful new national capitol city designed by non-freemasonic architects and constructed by the many hands of the nation within a large, and voted-upon, national forest or parkland.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in