Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Stock Market Rescued by the Fed Again? - 24th Sep 21
Are Amazon Best Cheap Memory Foam Mattresses Any good? Bedzonline £69 4ft Small Double ECO Example - 24th Sep 21
Evergrande not a Minsky Moment - 24th Sep 21
UK Energy Firms Scamming Customers Out of Their Best Fixed Rate Gas Tariffs - 23rd Sep 21
Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Should School Children be Jabbed with Pfizer Covid-19 Vaccine To Foster Herd Immunity? - UK - 23rd Sep 21
HOW TO SAVE MONEY ON CAR INSURANCE - 23rd Sep 21
Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
Trading Crude Oil ETFs in Foreign Currencies: What to Focus On - 22nd Sep 21
URGENT - Crypto-trader event - 'Bitcoin... back to $65,000?' - 22nd Sep 21
Stock Market Time to Buy the Dip? - 22nd Sep 21
US Dollar Bears Are Fresh Out of Honey Pots - 22nd Sep 21
MetaTrader 5 Features Every Trader Should Know - 22nd Sep 21
Evergrande China's Lehman's Moment, Tip of the Ice Berg in Financial Crisis 2.0 - 21st Sep 21
The Fed Is Playing The Biggest Game Of Chicken In History - 21st Sep 21
Focus on Stock Market Short-term Cycle - 21st Sep 21
Lands End Cornwall In VR360 - UK Holidays, Staycations - 21st Sep 21
Stock Market FOMO Hits September CRASH Brick Wall - Dow Trend Forecast 2021 Review - 20th Sep 21
Two Huge, Overlooked Drains on Global Silver Supplies - 20th Sep 21
Gold gets hammered but Copper fails to seize the moment - 20th Sep 21
New arms race and nuclear risks could spell End to the Asian Century - 20th Sep 21
Stock Market FOMO Hits September Brick Wall - Dow Trend Forecast 2021 Review - 19th Sep 21
Dow Forecasting Neural Nets, Crossing the Rubicon With Three High Risk Chinese Tech Stocks - 18th Sep 21
If Post-1971 Monetary System Is Bad, Why Isn’t Gold Higher? - 18th Sep 21
Stock Market Shaking Off the Taper Blues - 18th Sep 21
So... This Happened! One Crypto Goes From "Little-Known" -to- "Top 10" in 6 Weeks - 18th Sep 21
Why a Financial Markets "Panic" May Be Just Around the Corner - 18th Sep 21
An Update on the End of College… and a New Way to Profit - 16th Sep 21
What Kind of Support and Services Can Your Accountant Provide? Your Main Questions Answered - 16th Sep 21
Consistent performance makes waste a good place to buy stocks - 16th Sep 21
Dow Stock Market Trend Forecasting Neural Nets Pattern Recognition - 15th Sep 21
Eurozone Impact on Gold: The ECB and the Phantom Taper - 15th Sep 21
Fed To Taper into Weakening Economy - 15th Sep 21
Gold Miners: Last of the Summer Wine - 15th Sep 21
How does product development affect a company’s market value? - 15th Sep 21
Types of Investment Property to Become Familiar with - 15th Sep 21
Is This the "Kiss of Death" for the Stocks Bull Market? - 14th Sep 21
Where Are the Stock Market Fireworks? - 14th Sep 21
Play-To-Earn Cryptocurrency Games Gain More and Is Set to Expand - 14th Sep 21
The CashFX TAP Platform - Catering to Bull Investors and Bear Investors Alike - 14th Sep 21
Why every serious investor should be focused on blockchain technology - 13th Sep 21
SPX Base Projection Reached – End of the Line? - 13th Sep 21
There are diverse ways to finance the purchase of a car - 13th Sep 21
6 Tips For Wise Investment - 13th Sep 21 - Mark_Adan

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

© 2005-2019 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