The Investor Intelligence Sentiment Index speaks for itself. So-called investors have totally ignored the predictive programming and alerts coming from the parasite guild and cabalists. I have documented a few examples over the summer: Greenspan, Blankfein, the BIS, etc. Those psychopaths love to say, “I told you so.†The “market†is completely ignoring the end of QE support, the jittery junk bond market, the false-flag terror warnings and the clear and present danger of war. In this upside down world, they think the markets have little if any risk.
The Ned Davis research index of gold sentiment is the lowest it’s been in 30 years of data when the data started. Their chart of sentiment right now is basically at zero.
Mark Hulbert’s gold sentiment index is now at the second-lowest level ever. Hulbert said, ‘There has only been one time in the last 30 years when the HGNSI got any lower than it is today.â€
The following chart is a snapshot of the euro. Funds and asset managers are short up the ying yang. Well, I have news for them: There will be no ECB QE. The ECB will make interest-free money available and demand will be light.
David Stockman discussed in a recent post the sovereign carry trade. What is the risk analysis behind an LTRO style borrowing to buy Spanish sovereigns at 2% when it’s most prosperous province wants independence? None, apparently.
A few weeks ago, the Crimex customer and dealer warehouse allegedly had a gold inventory of 303 tonnes. Since then, about 14.2 tonnes was taken out and delivered. December is the big month, and October usually involves little action. Curiously though, the October contract month actually rose by 1,537 contracts up to 19,779 on Friday. That’s unusual enough to start monitoring again.
To put this in perceptive, $38 million happens to be one ton of physical gold. It wouldn’t take even a small scramble from big money or a few billionaires to upset this apple cart.
