It’s been a wild trading day but take a look at this…
March 12 (King World News) – Alasdair Macleod: Repo news: Submitted $272.8bn, accepted $198.1bn. Liquidity strains are escalating rapidly…We see a concerted attempt by BBs to wind down their Au & Ag shorts. Hence declining prices. Anecdotal evidence of CB leasing to provide book cover. Comex OI in gold down 100k in 10 days, and silver OI down 50k. The establishment has turned bullish. Next run will be spectacular!
Also of importance…
It Needs To Happen
Peter Boockvar: As economically brutal all these shutdown announcements are, it needs to happen. Getting more aggressive in shutting down large gatherings is the only thing that can slow the spread no matter the short term economic pain. Hopefully too in coming weeks our healthcare system will get flooded with test kits so we can then better separate the healthy from the sick.
As for whatever fiscal steps Congress and the Administration ends up passing, it will be well needed but is just about buying as much time as possible for both households and businesses to get thru this.
I will also say this, with the damage being done to markets and the values thus being created, Warren Buffett is probably licking his lips considering how much cash he is sitting on.
“Gold & Silver Are Ports In The Storm”
While Buffett hates it, I continue to believe that gold and silver are ports in this storm. By the way, he did once own a lot of silver.
We hear from ECB head Christine Lagarde today and oh boy did Mario Draghi leave her with absolutely nothing because of his obsession with wanting higher inflation. How silly and dangerous that obsession has become now that a global recession is upon us and all those now needed policy initiatives were wasted.
Everyone Needs To Listen To This Interview
To listen to one of the most important interviews of 2020 with Robert Arnott discussing the Coronavirus pandemic, wild trading in stocks, bonds, and global markets, as well as where he is investing over half of his liquid net worth right now CLICK HERE OR ON THE IMAGE BELOW.
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