Well, if the whole blood moons thing is correct, which I still doubt but it is possible, then the picture has to start deteriorating fast. Like now, within the next two months. According to Blood Moon Theory or whatever you want to call it, we have until Hoshanah Rabba 5776 for the world to change somehow.
Today, the S&P broke medium term support at 2040, gold is up again, miners up 20% since bottoming late July, China crashing again, VIX up 25% in one day. I’m long gold and miners (obviously), no longer short China anymore, but long the VIX expiring in November since covering the China short.
Let’s clarify this “China devaluing” mumbo jumbo for a second. China has a “peg” to the dollar. That means the PBOC doesn’t allow the Renminbi, or Yuan or whatever they call it, to trade below a certain exchange rate with the dollar. They control it by buying or selling dollars whenever it gets too close. China is not “devaluing” its currency so much as simply letting it trade below a previous peg without the PBOC selling dollars to strengthen it to within an arbitrary peg. Why are they doing this? They think they need to in order to “stimulate exports” which is a bunch of crap, like saying you need to take hit of your crackpipe to think clearly. Yeah, maybe for 3 seconds, but then you go nuts.
Now Vietnam and Kasakhstan and a whole bunch of other countries few people care about economically are doing the same thing. The peg is manipulation. Releasing that peg is allowing the free market to trade the currency.
I’m in the US now, and this is the first time in years I’ve even put on main stream financial media around market close today just to see what they say. The bullshit is so thick you can’t cut it with a chainsaw. Nobody has any clue what they’re talking about, and they all say that in different words.
Greek elections are happening again. My hope is Yanis Varoufakis will get off his butt and run for Prime Minister in a new party. He’d win hands down, I think, and send the banksters to hell. He’s the only one that would do it. September 20th apparently is the date.
Gold is on its way up past $1,150 after bottoming (hopefully) at $1,072. If this is the bottom, it’s been a long time coming.
When the S&P broke support since February when it steamrolled through 2040, it was in the last 15 minutes of trading today. If stocks don’t bounce back sharply tomorrow morning early, then the next support levels are at 1972. If that gets broken, 1820 is next. Tomorrow is a very important day for stocks. If they don’t bounce early, they probably won’t bounce.
Let’s see what happens.
The Jewish Libertarian 
Please don’t listen to the blood moons stuff.
Even the “rabbis” who are writing and talking about it got the ideas from the Christians.
Hey I’m not relying on anything. But it’s still interesting since my timing just happens to be similar to it.
My question about the RMB is why China changed its trading mechanism? (or dirty float) More importantly, how does the Jewish community (both orthodox and non orthodox) view this? THANKS MERCI
I believe China changed its float because they want the IMF to accept the RMB as an SDR currency to compete with the dollar. In order to qualify as SDR, it has to be a free floating currency, so china is moving in that direction. The Jewish community has no opinion on this stuff, because nobody has any clue what any of it means or cares.
I say anything freely priced is a good thing. All governments should get rid of artificial pegs and let the people decide how much they think government paper is worth.
Interesting insights. Merci beaucoup! All eyes on China as it prepares to want to enter the sdr, big boys club. It has to steer a path down the middle not left not right and prevent atrocities like the holocaust or Nanking massacre from happening again in order for discussions whether to let China join in my opinion.
I agree with u in principle but Chinese people generally have no clue about government paper due to low education levels. My next question is whether imf will allow rmb to be included in the sdr basket, or whether China will be given a chair at the adult poker table. Right now the Hong Kong h shares market valuations are as low as Pakistan, and this explains the nervousness in the markets, in my opinion. Any insights appreciated thanks !