Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Friday Stock Market CRASH Following Israel Attack on Iranian Nuclear Facilities - 19th Apr 24
All Measures to Combat Global Warming Are Smoke and Mirrors! - 18th Apr 24
Cisco Then vs. Nvidia Now - 18th Apr 24
Is the Biden Administration Trying To Destroy the Dollar? - 18th Apr 24
S&P Stock Market Trend Forecast to Dec 2024 - 16th Apr 24
No Deposit Bonuses: Boost Your Finances - 16th Apr 24
Global Warming ClImate Change Mega Death Trend - 8th Apr 24
Gold Is Rallying Again, But Silver Could Get REALLY Interesting - 8th Apr 24
Media Elite Belittle Inflation Struggles of Ordinary Americans - 8th Apr 24
Profit from the Roaring AI 2020's Tech Stocks Economic Boom - 8th Apr 24
Stock Market Election Year Five Nights at Freddy's - 7th Apr 24
It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- 7th Apr 24
AI Revolution and NVDA: Why Tough Going May Be Ahead - 7th Apr 24
Hidden cost of US homeownership just saw its biggest spike in 5 years - 7th Apr 24
What Happens To Gold Price If The Fed Doesn’t Cut Rates? - 7th Apr 24
The Fed is becoming increasingly divided on interest rates - 7th Apr 24
The Evils of Paper Money Have no End - 7th Apr 24
Stock Market Presidential Election Cycle Seasonal Trend Analysis - 3rd Apr 24
Stock Market Presidential Election Cycle Seasonal Trend - 2nd Apr 24
Dow Stock Market Annual Percent Change Analysis 2024 - 2nd Apr 24
Bitcoin S&P Pattern - 31st Mar 24
S&P Stock Market Correlating Seasonal Swings - 31st Mar 24
S&P SEASONAL ANALYSIS - 31st Mar 24
Here's a Dirty Little Secret: Federal Reserve Monetary Policy Is Still Loose - 31st Mar 24
Tandem Chairman Paul Pester on Fintech, AI, and the Future of Banking in the UK - 31st Mar 24
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

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