ES Trading

[new_trader]

Nigel Farage highlights the insanity of Keynesian economics...This is what you get when Central Planners think they know better than the free market.

The Genius of Mutual Indebtedness - Nigel Farage - YouTube


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[new_trader]

Booming Sweden’s Free-Market Solution

Booming Sweden

"After the Keynesian financial and monetary stimulus in the 1970s and ’80s, which led to inflation, repeated devaluations and low growth, Swedes believe in fiscal discipline. They are scared of huge national debt and budget deficits -- especially at the levels they are in the U.S."


There is a supposedly intelligent member of this forum who has been using Sweden as an example of how a Central Bank manipulating the money supply is a massive advantage. 😆 ...Idiot!

 

[new_trader]

The U.K Government and Central Bank have created a 'Pringles' economy where "Once you pop, you can't stop". Just like I said here:

If gold gets as low as $1000/oz I will be buying it with both hands, but I don't think the market will be that generous. I am absolutely certain that Governments around the world are going to have another massive round of Central planning. Phoney economies like those of the US and UK can't survive without it now...too many people living off the Government tit.

UK fights euro zone threat with $155 billion credit boost

UK fights euro zone threat with $155 billion credit boost | Reuters

These imbeciles think that taking money from taxpayers and giving it to banks so that they can lend it back to the taxpayers they stole it from in the first place will create growth. Talk about insanity.

REAL SAVINGS grows the economy, NOT DEBT.😡

The very wise and prescient Ludwig von Mises wrote more than 50 years ago:

Inflation and credit expansion, the preferred methods of present day government openhandedness, do not add anything to the amount of resources available. They make some people more prosperous, but only to the extent that they make others poorer.

 

[new_trader]

More words of wisdom from Ludwig von Mises, pay attention to this stark warning:

Inflation can be pursued only so long as the public still does not believe it will continue. Once the people generally realize that the inflation will be continued on and on and that the value of the monetary unit will decline more and more, then the fate of the money is sealed. Only the belief, that the inflation will come to a stop, maintains the value of the notes.

Remember this every time the Central Planners deny the need for more Q.E or attempt to disguise it under a different name and um and ah about the threat of inflation or the state of the economy.

 

[new_trader]

The nine most terrifying words in the English language are, "I'm from the government and I'm here to help."
-Ronald Reagan


This is exactly what we need, people who defend the taxpayer and free market capitalism instead of special interests that lobby the Government for more and more assistance.

Peter Schiff testifies before Congress: Round 2 - Shorter Version - YouTube





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[new_trader]

The U.K Government and Central Bank have created a 'Pringles' economy where "Once you pop, you can't stop". Just like I said here:




UK fights euro zone threat with $155 billion credit boost

UK fights euro zone threat with $155 billion credit boost | Reuters

These imbeciles think that taking money from taxpayers and giving it to banks so that they can lend it back to the taxpayers they stole it from in the first place will create growth. Talk about insanity.

REAL SAVINGS grows the economy, NOT DEBT.😡

The very wise and prescient Ludwig von Mises wrote more than 50 years ago:

Inflation and credit expansion, the preferred methods of present day government openhandedness, do not add anything to the amount of resources available. They make some people more prosperous, but only to the extent that they make others poorer.

The insanity of Government propaganda.

The government is keeping interest rates low and dumping £Billions into the credit market to keep consumers borrowing and spending like there’s no tomorrow and now their department of propaganda is reporting that people aren’t saving enough for retirement because of "a lack of confidence in pension investments". Can you think of anything more ludicrous?

'Confidence crisis' in pensions:
BBC News - 'Confidence crisis' in pensions

 

[new_trader]

'Lack of saving'

The automatic enrolment system, which will be phased in over six years, aims to boost the low level of pension savings among UK workers, especially in the private sector.

The government intends that between four and eight million more workers will be recruited into existing company schemes, or alternatives such as the National Employment Savings Trust (Nest).

An automatic enrolment with an opt out that will eventually become compulsory no doubt. These 'Private' pension plans will then be forced to buy government debt...all for our benefit no doubt, because the government is here to help...

 

[new_trader]

19 March 2009
UK budget deficit widens further
BBC NEWS | Business | UK budget deficit widens further


15 June 2012
UK trade deficit widens sharply in April
BBC News - UK trade deficit widens sharply in April


Jun 26, 2012
U.K. Posts Larger-Than-Forecast Deficit as Slump Hits Taxes
U.K. Posts Larger-Than-Forecast Deficit as Slump Hits Taxes - Bloomberg

"Britain had a larger budget deficit than economists forecast in May as the recession depressed tax receipts and government spending surged"


Over-consuming, unproductive welfare state Britain has a wider than forecast deficit and ‘they’ are surprised...I suppose their solution will be “Print more money, that will fix it”

 

[new_trader]

The U.K Government and Central Bank have created a 'Pringles' economy where "Once you pop, you can't stop". Just like I said here:




UK fights euro zone threat with $155 billion credit boost

UK fights euro zone threat with $155 billion credit boost | Reuters

These imbeciles think that taking money from taxpayers and giving it to banks so that they can lend it back to the taxpayers they stole it from in the first place will create growth. Talk about insanity.

REAL SAVINGS grows the economy, NOT DEBT.😡

The very wise and prescient Ludwig von Mises wrote more than 50 years ago:

Inflation and credit expansion, the preferred methods of present day government openhandedness, do not add anything to the amount of resources available. They make some people more prosperous, but only to the extent that they make others poorer.

If gold gets as low as $1000/oz I will be buying it with both hands, but I don't think the market will be that generous. I am absolutely certain that Governments around the world are going to have another massive round of Central planning. Phoney economies like those of the US and UK can't survive without it now...too many people living off the Government tit.

I agree 100% with this article:

Eyes Wide Shut – UK Hitting the Wall
Eyes Wide Shut – UK Hitting the Wall - Hinde Capital

"The ‘naughties’ was a decade of growth, but this growth was not real. It was not a growth borne out of production from savings, but it was a false growth borne out of rising debt levels. The UK’s seeming prosperity was, and still is, an illusion."

The writing has been on the wall for years and that is why I sold my property in the U.K and invested elsewhere and mostly outside the U.K. You know something is very wrong when every 3rd moron is telling you to buy property because you can't lose.




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[new_trader]

If gold gets as low as $1000/oz I will be buying it with both hands, but I don't think the market will be that generous. I am absolutely certain that Governments around the world are going to have another massive round of Central planning. Phoney economies like those of the US and UK can't survive without it now...too many people living off the Government tit.

German Parliament Approves Fiscal Pact and Euro Bailout Fund

German Parliament Approves Fiscal Pact and Euro Bailout Fund - Bloomberg


Surprise surprise...😴😴😴




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[new_trader]

Ron Paul Hearing on Fractional Reserve Banking.

This hearing, entitled "Fractional Reserve Banking and the Federal Reserve: The Economic Consequences of High-Powered Money," will be held on Thursday, June 28, at 2:00 p.m. in room 2128 of the Rayburn House Office Building.

Hearing June 28 2012 Fractional Reserve Banking - YouTube

"Fractional reserve banking underpins the entire banking system, yet its effects on society are completely ignored. Our financial system consists of vast amounts of credit pyramided on top of very small amounts of real savings-- all backstopped by explicit and implicit government guarantees. This poses significant risks to the stability of the economy and monetary system, which ought to give pause to any serious observer of financial markets. Hopefully this hearing will create a greater understanding among the American people about the nature of the banking system, and begin the movement towards serious systematic reform. The American people deserve a financial system that is stable and efficient; one that operates without taxpayer subsidies and bailouts." - Congressman Ron Paul

 

[new_trader]

Re: Trading Update

Using the principles and techniques I have written about in my journal I was confident enough in my market reading skills to expand my trading into other areas like commodities. I started with small positions (much more than 10p/point though!!) and took a longer term view to prove that my methodology is 100% robust regardless of time horizon. Although I didn’t record the trades here I thought I would give a brief summary.

-Palladium +44% -I regret selling
-Wheat +34% in approx 4 months
-Livestock (break even)
-Silver +67% Approx to date and still holding. Positions were opened with derivates and then rolled over into a physical ETF.
-Gold – Long term although most positions are in profit it is a long term accumulate.

This is all in addition to my longer term investment portfolio which in the last 12 months has outperformed the main indices. These successes have allowed me to have a much more relaxed approach to my trading and the necessary patience and discipline to trade only the most highly profitable and probable indications. I am only interested in being right, at the right time, and making as much money as I can when I am right. I am currently long US$140/point in a trade and hope to build a larger stake before it makes its move. My time horizon on this trade is 6-12 months which makes it more like an investment than a trade.

I continue to trade the ES contract short term as well 🙂

More and more, the idea of a Gold standard is entering mainstream discussion 👍

Gold vs paper money: Which should we trust more?
BBC News - Gold vs paper money: Which should we trust more?

 

[new_trader]

More words of wisdom from Ludwig von Mises, pay attention to this stark warning:

Inflation can be pursued only so long as the public still does not believe it will continue. Once the people generally realize that the inflation will be continued on and on and that the value of the monetary unit will decline more and more, then the fate of the money is sealed. Only the belief, that the inflation will come to a stop, maintains the value of the notes.

Remember this every time the Central Planners deny the need for more Q.E or attempt to disguise it under a different name and um and ah about the threat of inflation or the state of the economy.

Gold stocks are rallying, which isn't a bad thing because I added a few more to my portfolio when they were cheap. However I've seen this price action before with gold stocks and gold just before a Central Bank meeting. The ECB and the BOE are meeting and will make their announcements tomorrow, Thursday 5th July 2012.

The market appears to be anticipating further easing but I am sceptical. I think they are going to carry on the pretence that everything is O.K for the moment but that they stand ready to act just in case...or whatever.😴



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[new_trader]

If gold gets as low as $1000/oz I will be buying it with both hands, but I don't think the market will be that generous. I am absolutely certain that Governments around the world are going to have another massive round of Central planning. Phoney economies like those of the US and UK can't survive without it now...too many people living off the Government tit.

Bank of England | Publications | News Releases | Bank of England maintains Bank Rate at 0.5% and increases size of Asset Purchase Programme by £50 billion to £375 billion

Bank of England maintains Bank Rate at 0.5% and increases size of Asset Purchase Programme by £50 billion to £375 billion

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to increase the size of its asset purchase programme, financed by the issuance of central bank reserves, by £50 billion to a total of £375 billion.

UK output has barely grown for a year and a half and is estimated to have fallen in both of the past two quarters. The pace of expansion in most of the United Kingdom’s main export markets also appears to have slowed. Business indicators point to a continuation of that weakness in the near term, both at home and abroad.

😴😴



And in Europe....


ECB Cuts Benchmark Rate to Record Low of 0.75%, Deposit to Zero

ECB Cuts Main Rate to Record Low, Deposit Rate to Zero - Bloomberg

Global Easing
Central banks around the globe are easing policy in response to Europe’s debt crisis, which has pushed at least seven euro nations into recession and forced five of them to seek bailouts.

😴😴


The U.S will be next, you can Bernanke on it!


Once you pop, you just can't stop! Gold stocks are higher again today. 👍

 

[new_trader]

More words of wisdom from Ludwig von Mises, pay attention to this stark warning:

Inflation can be pursued only so long as the public still does not believe it will continue. Once the people generally realize that the inflation will be continued on and on and that the value of the monetary unit will decline more and more, then the fate of the money is sealed. Only the belief, that the inflation will come to a stop, maintains the value of the notes.

Remember this every time the Central Planners deny the need for more Q.E or attempt to disguise it under a different name and um and ah about the threat of inflation or the state of the economy.

PRECIOUS-Gold steady; market uncertain if Fed will ease policy

PRECIOUS-Gold steady; market uncertain if Fed will ease policy | Reuters

"If"...C'mon!!...😆😆😆

 

[new_trader]

This is an excellent discussion on the History of The Gold Standard. It is clear to see that Central Banks and paper money are the cause of the economic problems and the gold standard is the solution.

History of the Gold Standard - C-SPAN Video Library





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[new_trader]

Central Planners now consider taking stabs in the dark because so far their idiotic Keynesian policies have only made things worse. Only a stupid modern economist can think that a Central Bank having the ability to inflate the money supply is a massive advantage...low interest rates and printing money is all these morons know...🙄


With the fifth anniversary of the financial crisis approaching in August, policy makers from the Federal Reserve, the European Central Bank and the Bank of England all meet within 24 hours next week. Central banks, facing a global recovery that’s sputtering even after they delivered trillions of dollars of liquidity and near-zero interest rates, are having to consider fresh strategies to combat the slowdown.

Central Banks Search Toolbox for Ideas as Growth Slows - Bloomberg

The debasement of fiat money continues and new_trader continues to accumulate gold.

 

[new_trader]

Zero-growth forecast for economy - UK News - MSN News UK

Zero-growth forecast for economy

The downbeat outlook will increase the chances of further emergency support measures, including a possible interest rate cut beyond the current record low of 0.5% and a further cash injection to the Bank's quantitative easing programme.

I had a sneaking suspicion the Central planners would try to bury some bad news while the public is being distracted by the Olympics. Record low interest rates and printing money hasn’t worked...so what do the Central planners think the solution is? More of the same!

The debasement of fiat money continues and new_trader continues to accumulate gold.






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[new_trader]

U.K. Goods-Trade Deficit Widens to Record as Exports Decline

U.K. Goods-Trade Deficit Widens to Record as Exports Decline - Bloomberg

The Bank of England said yesterday that the pound’s appreciation over the past year may hamper exports at a time when slowing global expansion is undercutting demand.

Hilarious..."pound’s appreciation over the past year"...one fiat currency Vs another in a race to the bottom...

The debasement of fiat money continues and new_trader continues to accumulate gold.

 

[new_trader]

Anger Over 'Massive' Train Fare Hikes

Anger Over 'Massive' Train Fare Hikes - Yahoo! News UK

The Government is allowing train firms to raise fares by 3% more than RPI inflation from January, based on July's inflation figure.

Unions have warned that some fares could jump by 11% from the New Year, while most rush-hour travel, season tickets, and off-peak fares will rise by well above the rate of inflation.

Campaigners said commuters to London were routinely spending 15% of their salary on getting to work, and between 2011 and 2015, could see their annual season ticket rise by more than £1,000.

Bob Crow, leader of the Rail Maritime and Transport union , said passengers will be "rightly angry" when they find out the full extent of inflation-busting fare increases imposed on them by Government "diktat".

"inflation-busting fare increases imposed on them by Government"...This is because the Government basically manipulates and understates inflation figures. Prepare yourselves because it will get worse, just like I said it would. Of course there are numskulls here at T2W who believe everything the Government tells them and still think there isn't any inflation being created even as we are slowly and surely being impoverished by Government.

The debasement of fiat money continues and new_trader continues to accumulate gold.



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