Dollar is dropping as the Precious Metals make the turn

The US Dollar is correcting a bit with the trade at 84.55,  down 31.3 points after hitting a low of 84.475 before bouncing back.   No one knows as of yet what is causing this since our markets are not open yet with the drop happening during the London session.   Treasuries remain elevated and unchanged,  as they should be,  with the buyers of last resort waiting in the wings to consume the modified version of uncollectable debt that has saturated every single corner of the global system with many writers seem willing to forget the fact that these instruments can never be collected upon.   The Energy Sector remains in a funk with Crude Oil still at $91.43,  up 57 cents from yesterday’s close with the rest of the group in following along.   This might be our signal that the economic system is really falling apart since we’ve just exited Summer.   It just may be that no one in the middle class even has the money to even take a vacation out of town.   More data will come out in the next few weeks as we close out the fiscal year at the end of this month.   Gold,  is up $15 during the London Session with no reasons or excuses being posted with a possibility that Shanghai has taken over the price rigging game since the early opening of their physical exchange just last week.   Gold’s trade is currently at $1,232.90 with its high so far at $1,237.00 before the control mechanism was put into place.   Open Interest,  one of the major keys to technical trading that many of these so called chartists don’t use,  continues to rise with a gain of 928 contracts being added totaling 385,225 contracts.   Silver is higher as well but definitely way behind Gold’s rally with its trade at $17.895,  up 12.1 cents with a high of $17.99 so far.   Open Interest keeps gaining as the prices dropped with the total now making new multi-year highs at 176,501 as of yesterday with a drop off in OI happening now as the price climbs.   Have the shorts had enough trying to get these deep pocketed longs out?   All we need to do is watch as we sit on options only.   Bitcoin is trading lower than yesterday’s quote with its trade at $398.30,  down $5.20 inside a 24 hour trading range between $431.10 and $378.80.   The volatility is picking up inside the Anti-Fiat system, we of course hope it lasts.   Ripple Coin is higher as well with its trade at $0.004679, with more and more people are catching on to the widening acceptance of the outside the fiat bank Crypto-Currency and are seeing how Ripple Coin can be used as a gateway to enter into other currencies such the Japanese Yen,  Canadian Dollar,  Swiss Franc,  & etc … you can buy and sell within seconds if you wanted to without a banks fees or restrictions.   Grains are under harvest pressure for the next few months with flatness in prices showing up across the board,  Softs are all trading higher because of the Dollar’s drop and the Live Stock Sector is posting negative numbers.   The Papers are still trading in the negative and are breaking lower and all this is happening before our markets open.   What is causing the change is still unknown,  but many are feeling that there is an inevitable failure looming in the background and we agree with the assessment.   There needs to be a failure of a major bank in order to get things started in the proper way.   Eric Holder’s inability to arrest any of the major bankers with all the exposed high crimes,  should take most of the blame,  but as long as these guys have the payola to stay out of jail this game will continue.   Change is coming and maybe it will happen this next month,  so keep those Precious Metals and Crypto’s close,  and as always  …  Stay Strong!!

JB Slear
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com

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