Yuan Devaluation, Obamacare, and Cyber-Attacks, Oh My!

by Andrew Hoffman
Miles Franklin

Another geopolitical “hell week” is over, as the world holds its breath in advance of the not only the most important election in history, but the most. And nowhere is this more evident than the action of maniacally managed “last to go” markets like the “Dow Jones Propaganda Average,” paper Precious Metals, and the newest editions to the “too important to decline” rig job, crude oil and Deutsche Bank stock.

[…] Today was a perfect case and point; as, following another overnight Yuan devaluation – to its lowest level in six years – markets started the day as they did when the Yuan was devalued last year; with stocks, commodities, and currencies plunging, whilst Precious Metals surged. Only today, care of a prototypical “dead ringer” algorithm, the Dow was rescued from the PPT’s “pre-election line in the sand” of 18,000, whilst oil and DB stock “miraculously” recovered early losses, and PMs gains were capped. In fact, the Cartel has been so blatant in its gold capping – despite having decidedly failed to push it below its (rising) 200 DMA of $1,266/oz – they have actually employed the 12:00 PM “cap of last resort” in each of the past nine days! This, amidst a relentless environment of political, economic, and monetary “PM bullish, everything-else-bearish” headlines.

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