The buck was crushed this week, plunging -4.61% to 106.16, moving lower four days out of five. The bulk of the losses came after the Consumer Price Index release around 8:30 a.m. Eastern on Thursday, which showed a slightly lower rate (+0.44% m/m) than expected, and then on Friday, there were hints from the Chines Communist Party about relaxing some Covid restrictions (Source – SCMP). The buck fell further, while other commodities (crude, copper) gained. Taken all together, the drop in currency was very, very large.
Gold, the anti-dollar, shot higher this week, up 92.80 [+5.54%] to 1769.40. Gold broke above the 50 Moving Average on Tuesday (at around 10 a.m. Eastern), and just never looked back. Another big move was seen on Thursday after the CPI release. The swing low candle print was very bullish; this probably marks a medium-term low for the yellow metal. Note that gold/Euros actually moved higher too [+0.97%], but it was a much more modest move. Gold’s move this week was mostly – but not entirely – a currency effect.
Silver looked strong as well, rising 0.88 [+4.25%] to 21.67. Silver managed to close above that 200 MA line, which is a reasonably strong bullish signal. That said, silver did not outperform gold, which is not so bullish. In a metals bull market, silver outperforms gold. We are not there yet, it seems.
Some of the other “metals tea leaves” includes GDX/gold: +6.96% (bullish), GDXJ/GDX: -2.18% (bearish), silver/gold ratio: -1.22% (bearish). Roughly speaking, this seemed to be a relief rally/breakout week for the miners, and for gold as well, but there was no general bullish signal for the metals group overall.
The S&P 500 (SPX) rallied fairly strongly this week, up 5.90%. Big Money fleeing the U.S. dollar didn’t seem to affect equities one way or the other. Crappy debt also moved higher, with Junk (JNK) up 2.05%. Note that most of the equity market gains happened following the CPI release on Thursday. I guess inflation is just about gone now, right? Well, Wolf doesn’t agree: he’s got some interesting technical receipts: (Source – Wolf). The reduced CPI move was due to a monstrous 6% drop in the CPI for health insurance. (Did your premiums drop 6% this month? Mine sure didn’t.) This really looks smelly to me. But SPX didn’t care – it rallied anyway.
The currency everyone loves – and by that I mean Bitcoin – had a difficult week, falling 19% to (around) 17,000, which marks a new 2-year low. Bitcoin’s sell-off was driven by an issue with a bitcoin exchange named FTX, which was allegedly hacked (Source – coindesk), and which also declared bankruptcy (Source – Pfizer/Reuters). Who benefits? Gosh those Central Bank Digital Currencies sure look to be a lot safer than bitcoin right now, don’t they? Amirite, WEFer-Sunak? (Source – benzinga). Timing is awfully coincidental. Sunak arrives into office, flogs the WEF’s CBDC, and a few weeks later, bitcoin/FTX “has a problem.” My guess: bitcoin (at least one wallet, and at least one exchange) has had some nation-state-level attention paid to it. And not the good kind of attention. Be careful out there. Air gaps are best.
Crude fell 3.65 [-3.94%] to 88.96 this week, with most of the losses happening on Tuesday and Wednesday. Friday’s rally (possibly driven by China’s changes to their Covid rules) in crude recovered a fair amount of the earlier losses. Unlike the other items, crude didn’t seem to be affected by the CPI release. Just looking at the chart, it is hard to say where crude is headed next. I think if Covid Zero ends, crude will go nuts. Same is probably true once the Strategic Petroleum Reserve stops being drained.
Here is the weekly change in the SPR; note that the report is delayed by a week, so this actually represents changes as of Thursday last week. The pillaging from last week was about 50% “normal” heading into the midterms. Should be interesting to see if/when the WEF/Biden-Handlers shut down the pillaging operation. They’ve already told us they want higher oil prices. To “Save the Planet.”
Copper had a fantastic week, rising 0.23 [+6.16%] with most of the move happening on Friday [+4.14%]. Copper’s big rally on Friday started during Asia trading hours, which ties it in with the timing of the changes made to China’s Zero Covid rules. I mean – if you’re gonna “save the planet” from “Climate Change” using electrics, you’ll probably need a whole lot of copper, amirite?
So, we have Zero Covid ending in China? The Fed, about to pivot? Inflation, under control? Don’t forget, the shots are Safe and Effective! We’re in a Pandemic of the Unvaccinated! And there are NO Treatments for Covid-19!
How much of this is real, and how much, mirage? I think there’s a fair amount of mirage out there. But the dollar’s huge drop, if it continues, should not be ignored. Gold is the anti-dollar. And there’s all the talk of the Brazil, Russia, India, China, South Africa (BRICS) alliance, which now will include Saudi Arabia. Petrodollar, meet your successor, brought to you by either the WEF, or the CCP. Hard to say which. The Biden-Handlers are carrying the water for someone, that’s for sure. Definitely not You and Me, however.
The New Candidate Countries For BRICS Expansion (source – silkroad); “Algeria, Argentina, and Iran had all applied, while it is already known that Saudi Arabia, Türkiye, Egypt and Afghanistan are interested, along with Indonesia, Kazakhstan, Nicaragua, Nigeria, Senegal, Thailand and the United Arab Emirates.”
WEF:
FOUR HUNDRED private jets arrived in Egypt during COP27 as climate delegates are accused of ‘hypocrisy’ (Source – DailyMail); a WEF/COP metaphor: each year, thousands of alcoholics gather and throw a big party, where they all get drunk as skunks, and then they brag to each other about how they’re gonna force “sobriety” on all the little people around the world. This year marks the 27th “drunken forced-sobriety party”.
U.S. races to shore up European support for Ukraine strategy (Source – politico); “U.S. officials are increasingly worried about keeping their allies on board with Washington’s approach to countering Russia in Ukraine as economic pressures grow across Europe.” They said the quiet part out loud: they are not sure they can keep this cobbled together for too much longer.
Kanye West hits out at Harley Pasternak: I was mentally misdiagnosed and nearly drugged out of my mind (Source – marca); a peek at how the Oligarchy keeps even the absurdly rich and “successful” entertainers in line. Messages allegedly from Pasternak:
“I’m going to help you one of a couple ways…First, you and I sit down and have an loving and open conversation [sic], but you don’t use cuss words, and everything that is discussed is based in fact, and not some crazy stuff that dumb friend of yours told you, or you saw in a tweet.”
“Second option, I have you institutionalized again where they medicate the crap out of you, and you go back to Zombieland forever. Play date with the kids just won’t be the same.”
“Health”:
Increasing SARS-CoV2 cases, hospitalizations, and deaths among the vaccinated populations during the Omicron (B.1.1.529) variant surge in UK (Source – medrxiv); “We observed negative vaccine effectiveness (VE) for the third dose since December 20, 2021, with a significantly increased proportion of SARS-CoV2 cases hospitalizations, and deaths among the vaccinated; and a decreased proportion of cases, hospitalizations, and deaths among the unvaccinated.” Paper showing unvaxxed >> vaxxed.
Completely safe for pregnant women…but put their dead babies into the bucket (Source – covidlawcast); huge increase in stillbirths, included is a redacted internal hospital memo on how to handle the huge increase in dead babies. The buckets are for the dead babies, to be sent for autopsy. The real story: to the (apparent) surprise of the administrator, many nurses seem to have a problem just dropping dead babies into plastic buckets and then pouring saline on them; the nurses demanded the use of chux (a sort of disposible diaper) to provide a cushion. It feels like a small thing amidst the horror, but small kindnesses like this is why I like the nurses so much.
Covid poll: A pulse check of Australia as we exit the pandemic (Source – news.com.au); “More than half of respondents either said they regret getting vaccinated, or were unvaccinated and happy with their decision. Not a single person said they were unvaccinated and regret the decision. Only 35% out of more than 45,000 people said they were vaccinated and would make the same decision again.” This in Covid-Nazi-Australia. Turning point marker.
The Incidence of Myocarditis and Pericarditis in Post COVID-19 Unvaccinated Patients—A Large Population-Based Study (Source – nih); “Post COVID-19 infection was not associated with either myocarditis (aHR 1.08; 95% CI 0.45 to 2.56) or pericarditis (aHR 0.53; 95% CI 0.25 to 1.13).” Public knowledge: myocarditis comes from the shot, not from the disease.
Stanford quietly drops vaccine requirement (Source – steve kirsh); another turning point marker.
Anthony Fauci’s Sign-Off Message (Source – wired); bootlicking continues, even on his way out the door. Fauci is not being thrown under the bus.
Michigan children’s hospital says it’s 100% full due to RSV surge (Source – abc); probably a pre-marketing effort for that mRNA RSV shot.
Burzynski – The Cancer Cure Cover-up (Source – odysee); a long (2h) documentary made in 2015, it describes 30+ years of FDA legal assaults (including multiple criminal prosecutions) of a Polish immigrant doctor who discovered an effective, benign cancer treatment back in the 80s. Covid and AIDS were not the FDA’s first anti-human rodeos. “Anti-neoplastons” is the technology. It is charming to see footage from past MSM interviewers (80s, 90s, 2000s) who weren’t acting as Pharma cheerleaders. Based on our recent FDA & Ivermectin Covid experience, I’d guess the anti-neoplaston stuff probably works. If it didn’t, the FDA wouldn’t have tried so very hard to crush the good doctor over so many years. Likewise, nobody would have tried to steal and then patent the idea either. Lots of good personal stories – worth watching if cancer is a concern, and you have two hours to spare.
Midterms:
Right Direction or Wrong Track (Source – Rasmussen); “29% Say U.S. Heading in Right Direction”
The 2022 Midterm Elections: What the Historical Data Suggest. (Source – ucsb.edu); Inflation [8%]: Senate: -3, House: -29, Popularity [40-44]: Senate: -4, House: -36. Note that the “Biden” popularity is not 40% – more around 30%. Simple math says the Oligarchy’s defeat should have been crushing.
Why the President’s Party Loses Seats in Midterm Elections (Source – thoughtco); “in the 21 midterm elections held since 1934, only twice has the president’s party gained seats in both the Senate and the House: Franklin Delano Roosevelt’s first midterm election and George W. Bush’s first midterm election.” Team in power usually loses bigly. Especially when unpopular.
Why it’s time to put Donald Trump in the rear view mirror (Source – msn); narrative #1: No Red Wave = Orange Man Bad!
NH Gov. Sununu: Voters Rejected Trump, GOP Extremism (Source – breitbart); narrative #2: no, it wasn’t cheating – voters showed us all just how much they love open borders, exporting good jobs overseas, no energy, endless wars, inflation, and being ruled by the Uniparty! Ukraine War Forever!
LA dismisses charges against CEO of election software firm [Nov 9th] (Source – Pfizer/Reuters); LA likes CCP control over election software.
Kari Lake says she’s putting together a transition team, confident of victory in prolonged election (Source – justthenews).
My read on the midterms – based on history, Biden’s unpopularity, along with “inflation” – there definitely should have been a monster Red Wave. There wasn’t. This is evidence that the Oligarchy’s control over the voting machinery is both deep and massive; we just don’t know chapter and verse at the moment. At the same time, the Oligarchy appears desperate to sideline Trump, and promote his apparently-much-less-dangerous alternative (DeSantis), and return the party back to its “Country Club Rich Guy Uniparty Eternal-Warmonger” (Graham/McConnell) roots. Examples of cheating: when the election management software is written in China, and when you can get the tabulating machines to mysteriously “break down” in key districts on election day, when Team Populism shows up to vote in person. I’m confident that evidence of other mechanisms will also appear in time. We have probably just seen “tip of the iceberg” at this point.
The axis of control that his “personal trainer” had over Kanye West was off the charts. How does that even happen? Kanye is a billionaire. I mean, if I were a billionaire, and my trainer-flunky committed me, I’d get pretty upset. Minimum payback would include an army of lawyers. Given that, there is probably a lot more to it than this. Reminds me a lot of Britney Spears and her imprisonment. I’m sensing a pattern. Perhaps being one of those uber-powerful Young Global Leaders isn’t as much fun as it looks?
Public knowledge: Covid doesn’t cause myocarditis. Vaccines have negative efficacy. Not yet public: after the shot-is-safe-in-pregnant-women campaign, there are now a huge number of stillbirths. How incredibly sad for the Moms – and the nurses taking care of them. Vaccine failures are becoming more widely accepted. As a result, the gang in charge is hoping the whole “vaccine” thing will simply go away; Stanford just quietly dropping the requirement is a marker. So, will it all just go away? Now, we are at the decision point. It could all just boil over, with all the repressed vaccine injury and death ready to explode. The incidence in young people is huge. It is as if the entire teen-to-20-something age group were sent off to Vietnam, where 10% of them were shot, tens of thousands were killed, most came back alive, but many haven’t put it all together. Not yet anyway. “Wait, so … gunshots can cause health problems? They said getting shot was Safe & Effective. And if I did, I was protecting Grandma.” And now, no more shots required for Stanford. “But what about Grandma??!”
And Musk owns TWTR. Do they have control over him the way they did over Kanye West? “You’re looking a bit crazy, Elon…” And yet. It’s a process. If the Lil Bird gets loose…those teens might wake up a whole lot faster…that’s the risk…how much freedom does Musk actually have?
And that leaves us with Kari Lake. MSM hates her 100%. She’s for real. If she wins, it is totally in spite of an all-hands-on-deck effort by the Oligarchy to keep her out of office.
VP Kari Lake. That has a nice ring to it. Let’s see her fix the mysterious and easily-broken tabulator machines, and then stop the invasion of the Arizona border. This, while we wait for all the vax injured to wake up to what has just happened to them. To teen-and-20-something America: “your heart problems aren’t due to ‘climate change’, they’re due to the WEF-Oligarchy forcing you to take the shot. That group, sitting right over there…demanding ‘Amnesty’…pretending that they had no idea…”
And to the rest of the world: I’m really sorry for the part that my country has played in this disaster. I hope and pray that we can bring the perpetrators to justice. If it is any consolation, our people have been hit very hard as well. Since 2020, average lifespan has dropped by 2.7 years, to the lowest in the Western world (source – CDC). FDA, CDC, NIH, NIAID, Pharma, our utterly sociopathic “philanthropies”, they all need to be brought to heel – along with google, facebook, twitter, and our corrupt MSM. During this time, official corporate/government/sickcare-America has not been a force for good. Our mythology said we should have been, but we were not. And I’m sorry for that. We need to clean house. We must do better. For all our sakes.
by cmartenson