Precious Metals Aren’t the Only Markets Getting Crushed In The Overnight
Precious Metals Aren’t the Only Markets Getting Crushed In The Overnight by Rory for The Daily Coin
Back on March 9, 2020 we discussed how ugly everything had become on the equities markets, you know, the one President Trump is always pointing you towards? Well, we said at the time, when we published This is Super Ugly there was a gap in the DJIA chart at approximately 28,800 that would have to be filled. That would never happen had the Federal Reserve not announced the pumping of $700 billion into the market on a monthly basis along with dropping the Fed Funds Interest Rate to zero. ZIRP is now a reality Now, not only will that gap be filled it will be blown by like a Corvette, at top speed, blowing by a bicyclist.
This is not the case in other markets, commodities, oil and the like. The blood bath is just getting started. The virus is spreading and not just human to human but market to market. The disease the satanic globalist have been spreading since 2008 is beginning to take root and infect the patient on a global scale. Other nations, some that are still healthy, are pushing back with “antibiotics” they possess, like oil, human resources and their own sovereignty. Have the satanic globalist at the Federal Reserve, the parasites on Wall St and in the City of London finally overplayed their hand? We’re about to learn how much more stress the system can take. My guess is with the new injection of monetary heroin the “patient” is now getting back to normal, or is he?
With reports flying around regarding Russia setting up the oil market for a massive crash is it any wonder this happening? We have reported for the past couple of weeks how Russia’s President Putin has been very vocal about getting the price oil down to hurt the shale industry. It appears a flood of cheap oil combined with zero demand will, in fact, take a toll on a market. Oil is below $30/barrel which is exactly where Russia would like to see it stay, at least for the short term.
According a report just published at Zero Hedge the overnight futures markets for key global markets is looking like a major blood bath is being unleashed this morning.
While futures markets have been limit-down since shortly after their open, despite massive Fed intervention efforts, US Equity ETFS are signaling a near 10% down open (which will immediately trigger a 15 min halt circuit breaker).
Dow ETFs also imply around a 2,100 point opening drop to 20,500…
Bonds are bid (but off the overnight yield lows when 30Y was down 27bps)…
Additionally, oil prices have collapsed to their lowest since February 2016, with WTI back below $30…after OPEC canceled their technical meeting this week and IHS Markit warned the most extreme oil surplus on record is possible.
And wholesale gasoline prices are down a stunning 20%…
And gold is being dumped again (though less aggressively)
So will they close the markets?