07-17-26 pillz
What Bloomberg Strategists Say...
“Chip-stock price action has not been terribly encouraging. This magnitude of decline is likely to herald more selling pressure from levered ETFs, even though the AUM of products like SOXL is considerably lower than it was a few weeks ago.” |
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07-17-26 carib
| https://www.abc.es/internacional/eeuu-ultima-plan-multimillonario-ayuda-elecciones-venezuela-20260715015509-nt.html |
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07-16-26 savo
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07-16-26 carib
| BTW: any comment on the ABC article? |
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07-16-26 carib
| Savo: I bought GLD @1.300$ per ounce, not as a "speculative move" so I have plenty patience. But I should have sold @5.400$ per ounce, and maybe buy back more @4.000... |
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07-16-26 savo
carib... that must be the case... but remember that gold moves spasmodically ...brutal sell offs followed rallies.
There is also a political element... Trump could not go to war and have gold spiraling to 20k... so the FED must have intervened and it is costless to do in the paper market.
In any case all that is happening right now is bullish for gold. patience required.
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07-16-26 carib
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07-16-26 carib
Savo: what about the simple explanation that some investors in gold merely took out a part of the profits they were sitting on?
Gold has no yield, but only a potential future gin in terms of fiat currencies or income producing real assets.. |
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07-16-26 savo
carib.. i do not understand why you concoct so much to find a reasonable wealth tax...
a) anything bipartisan is by definition bad... lowest common denominator...
b) QE and Fed set interest rates benefit the few that can access cheap capital and make the majority that ends up holding the inflation bag more poor creating the need for the State to help them.
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07-16-26 savo
bad news for the evil psychopath
El Gobierno de Estados Unidos expresó este jueves su respaldo al anuncio realizado por la Asamblea Nacional de 2015, presidida por Dinorah Figuera, y el Gobierno interino de Venezuela sobre la puesta en marcha de una agenda conjunta que comenzará el próximo 1 de agosto, con el objetivo de avanzar en la estabilidad, la democracia y la recuperación nacional del país.
A través de un comunicado oficial, Washington calificó la iniciativa como «un importante paso adelante» dentro del proceso de reconciliación política venezolana y destacó que esta da continuidad al encuentro sostenido el pasado 18 de junio entre representantes de ambas instancias.
https://albertonews.com/principales/ee-uu-respalda-la-agenda-conjunta-de-la-an-de-2015-y-el-gobierno-interino-para-la-transicion-democratica-en-venezuela/ |
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07-16-26 savo
Spot gold fell 1.8% to $3,987.38 an ounce
Devastating.....
BREAKING: The largest US gold-backed ETF, $GLD, has recorded -$14.4 billion in outflows since March 1st.
This is 50% more than the -$9.6 billion in outflows seen across all Bitcoin ETFs since the October peak.
In March alone, investors withdrew -$8.5 billion from $GLD, the largest monthly withdrawal on record.
This was followed by -$1.7 billion in April, -$872 million in May, and -$3.2 billion in June.
Meanwhile, outflows have eased in July, with withdrawals tracking at -$46 million month-to-date.
Is the gold market setting up for a comeback?
https://x.com/KobeissiLetter/status/2077751610126512490 |
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07-16-26 carib
Remove the malign and pernicious effects of social media, IMHO.. and the natural split of the electorate would sill be around 2/3 holding moderate views, and 1/3 extreme views of both kinds.
But we live with distorted public opinion induced feelings.
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07-16-26 carib
| PS: obviously, 85% Dem support is likely to mean 55% overall support: i.e. a majority support. |
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07-16-26 carib
Panas: Politics based on fear and hatred for the opposing side normally produce very bad outcomes.
What matters concerning a specific new law, is not if one side strongly supports it or opposes it.. but rather if the law is likely or not to be adopted, what are the consequences, and what comes next.
The proposed California "billionaire tax" is IMHO bad essentially for three reasons:
1) it's unlikely to be a "one off, but more likely to be a first step;
2) it is easily avoidable, bu moving to the opposite side of Lake Tahoe, or to Austin or Miami;
3) it targets "billionaires" but can be easily be expanded later on to "millionaires".
The reasonable approach, IMHO, is to avoid state level additional taxes, to set constitutional limits to wealth taxes at federal level.. and to introduce very low rate wealth taxes exclusively to compensate parallel reductions in income taxes, with a neutral revenue balance. All the above politically implies an unlikely bipartisan agreement, and is thus going to remain wishful thinking.
The economic and financial case for a form of wealth tax to replace in part income taxes is very easy to make:
if I live in California and my salary or income increases by 1 million dollars, over half of that amount goes to federal and local authorities, but if the value of my company or my investment portfolio goes up by 10 million dollars, and I do not sell, but borrow 1 million dollar against it, my net cost is likely to be zero, and my life-quality benefits will be the double of the fellow who get just 1/10 richer.
That is patently unfair, and a reasonable reform would be an improvement, IMHO, provided the objective is NOT increased total taxation, but rather a fairer distribution of the tax burden, with significant efforts to increase the quality of public spending (meaning doing more with less cost).
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07-16-26 panasonic
| Carib, according to Regan support by democrats in 85%, so when you add republicans and agnostics probably total support falls to 55%? |
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07-16-26 carib
Panas: according to the FT the California billionaire tax proposal on the ballot has 55% voter support. But it might be mooted by a concurrent proposal on the same ballot exempting personal savings from taxation. In case both pass the one with most favourable votes prevails on the other.
IMHO california taxes are too high, not too low.
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07-16-26 pillz
| Spot gold fell 1.8% to $3,987.38 an ounce |
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07-16-26 savo
so.. what is it? The fox news sounds like the typical MCM operation.
El presidente estadounidense calificó como positiva la relación actual con las autoridades venezolanas y destacó el trabajo conjunto entre ambos gobiernos.
“La gente de Venezuela, el liderazgo ha sido fantástico, y estamos trabajando con ellos”, dijo Trump, al señalar que existe una “gran relación con el liderazgo” y que ambos países han trabajado “muy de cerca”.
https://albertonews.com/principales/trump-afirma-que-petroleras-estadounidenses-estan-haciendo-fortuna-en-venezuela-y-elogia-al-liderazgo-venezolano/ |
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07-16-26 savo
and his war crimes
for which he is protected by? |
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07-16-26 panasonic
Vic, my pessimism on who controls the Dems party remains intact.
You should check Dave Regan, President of SEIU-UNW, he is the one proposing wealth tax.
According to data that Regan handles, Dems party is not fractured, 85% of his party supports his proposal. |
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07-16-26 victor
More than 100 House Democrats voted to block billions of dollars in military aid to Israel — an ultimately unsuccessful effort that highlighted the growing division in their party on the issue.
On Wednesday 103 Democrats voted in support of an amendment to block aid that had been proposed by GOP Rep. Thomas Massie, a persistent critic of President Donald Trump who has been skeptical of US support for Israel. One Republican also signed on. But the measure ultimately failed 104-314. 98 Democrats voted against it and 10 voted present, meaning they did not weigh in on the issue.
Even the top three lawmakers in House Democratic leadership split on the issue. House Minority Leader Hakeem Jeffries and House Democratic Caucus Chair Pete Aguilar voted against it, while House Minority Whip Katherine Clark voted for it.
Progressive Democrats celebrated the seismic shift in their party where, for the first time, the majority of House Democrats voted to block billions in military aid to Israel. Two years ago, only 37 Democrats voted to block aid to Israel when presented with a similar vote.
“Think about this just for a moment. Starting today, a majority of Democrats in this building refused to vote to send billions of dollars in weapons to the Israeli military,” Democratic Rep. Greg Casar, the leader of the Congressional Progressive Caucus, said following the vote. “That sends a strong message to Netanyahu that the days are over of an unaccountable blank check to his wars and his war crimes, at least from the Democratic Party”
He added: “Nothing will be the same on this issue ever again I think after this vote.” |
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