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November 18, 2005
Metals, inflation & technical breakouts, Fri., Nov. 18, 2005, 2:30 PM
Jim, who is a geologist, trader and blogger, sent me mail that included these three charts of the obscure metals that show that with inflation, it's not just the gold price breaking out.
Uranium
Tungsten
Molybdenum
You might wish to review the metals complex at StockCharts as well. You will see that, in the current cycle, from a technical perspective, Palladium broke out October 7, Copper broke out November 10, Platinum broke out November 16, and Gold and Silver broke out on November 17.
As you might be aware, there has been a continuous stream of Talking Head personalities visiting Financial Entertainment Television to mock people like me by telling you there is no inflation. That bothers me, so here is my take:
1. Some of these people, regardless of their personal views, are paid to do that. We call them pimps.
2. Some of them can't read charts. Because they happen to be educated, we call them blind.
3. And some of them have vested interests that are hurt by inflation. We call them liars.
One TH particularly insulted me last evening, stating that, According to Bernanke, if you control inflation expectations, you can control inflation itself."
What is that, the new GOP Law of Capital Markets: You can fool all of the people all of the time." ?
If Bernanke truly believes that, then America is in much worse shape than people realize.
I find it stunning that people who are pimps, blind or liars can get so much TV exposure today.
Maybe that's why Google has trashed the advertising model of Big Media?
Posted by Posted by Bill Cara on November 18, 2005 02:30:16 PM | Category: Commodities
“According to Bernanke, if you control inflation expectations, you can control inflation itself"
I don't know if Bernanke actually said or believes this, but this is the mind set of the minority who have been directing the Republican party. It is literally faith based reality or a form of old tribal magic.
Your thoughts control the world. Thus people saying bad things about the situation in Iraq are the only problem, if all had happy thouhts all would be will. Thus who are concerned are traitors.
Similarly Kudlow has said any decline in the dollar is called by double plus ungood thoughts from the liberal press.
Listen to our rigt wing talkshows or sadly a number in the administration.
Posted by: david bennett![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
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November 18, 2005 3:06 PM [link]