dude! gold sinking further after hours! 1210 incoming!  |
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gold rejecting off resistance. should resume downtrend:  1310! Wrong direction |
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"People have left the party as the gold story becomes boring for many investors," John Stephenson, portfolio manager at Stephenson & Co., told the news service.
"The world is not falling apart, and the market has shrugged off the political developments. At a time when higher interest rates are knocking at the door, people don't see the need for gold."http://www.newsmax.com/Finance/UBS-gold-Fed-dollar/2014/09/16/id/594964/
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gold rejecting off resistance. should resume downtrend: |
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just read this paragraph and realize just what a dictator John Kerry perceives himself to be:
"Well, folks," he said, "ever since the end of the Cold War, forces have been unleashed that were tamped down for centuries by dictators, and that was complicated further by this little thing called the internet and the ability of people everywhere to communicate instantaneously and to have more information coming at them in one day than most people can process in months or a year."
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Boom. usually the first move is the wrong move.
What did the FOMC say? Can anyone summarize? tldr: tapering to $5 bill mortgage purch, $10bill treasuries. ...that economic activity is expanding at a moderate pace. On balance, labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee’s longer-run objective. Longer-term inflation expectations have remained stable. The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions... Beginning in October, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $5 billion per month rather than $10 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $10 billion per month rather than $15 billion per month. Thanks. So, this isn't a commitment though right? It's an "intention to taper"? correct. you never know with these ppl though. |
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well, here's the good news.
in terms of instantaneous reactions, Bitcoin hasn't budged an inch.
which may, in the broader picture, argue for Bitcoin as the ultimate hedge against mayhem in the broader markets. and also argues against gold & silver as well, as we see it whipping around like a stuck pig right along with everything else. i don't know but sometimes i have this bad habit of correlating significant news events with what i perceive to be turning points in charts. but today's FOMC mtg comes right on the day that the BTC price retests the 440 level (almost the bottom) after 9.5 mo of its longest bear mkt. it would be fitting if we bottomed out now. |
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Boom. usually the first move is the wrong move.
What did the FOMC say? Can anyone summarize? *FED TO END QE PROGRAM AT NEXT MEETING IF OUTLOOK HOLDS, RELEASES EXIT STRATEGY GUIDELINES *FED WILL USE IOER RATE TO MOVE FED FUNDS INTO TARGET RANGE *FED TO USE OVERNIGHT-REVERSE REPO `AS NEEDED' IN EXIT *FIRST RATE RISE SEEN IN 2015 BY 14 FED OFFICIALS VS 12 IN JUNE *FED KEEPS 'CONSIDERABLE TIME' PLEDGE FOR LOW RATES POST-QE *FED SEES MEDIAN FED FUNDS RATE AT 1.375% AT END OF 2015 *FED SAYS TIMING OF REINVESTMENT PHASE-OUT IS ECONOMY-DEPENDENT *FED SAYS INFLATION `RUNNING BELOW' FOMC'S LONG-RUN GOAL *FED REPEATS SIGNIFICANT UNDERUTILIZATION IN LABOR MARKETS *FED SAYS ECONOMY EXPANDING AT MODERATE PACE, LABOR MKT IMPROVED *FISHER, PLOSSER DISSENT ON FOMC VOTE ON FORWARD GUIDANCE |
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well, here's the good news.
in terms of instantaneous reactions, Bitcoin hasn't budged an inch.
which may, in the broader picture, argue for Bitcoin as the ultimate hedge against mayhem in the broader markets. and also argues against gold & silver as well, as we see it whipping around like a stuck pig right along with everything else. |
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well, here's the good news.
in terms of instantaneous reactions, Bitcoin hasn't budged an inch.
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just for sh*ts and giggles, here's what stocks, bonds, oil, gold, silver, and other currencies do when the Fed makes an announcement. and who says the entire economy doesn't hinge on Fed policy?:  |
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Boom. usually the first move is the wrong move.
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if you think Bitcoin is volatile, just watch the stock mkt for the 30 min after the FOMC announcement in 6 min.
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Also one of the benefits of nxt is the that the code is so simple to read and update, while the community is very anarchic and believers in choice and freedom that just about any person could have easily made that modification and released a fork. We didn't need JL to offer it. This is a true benefit of nxt, not something that should destroy the basis for the entire project as your suggesting.
As I understand it, JL is a core dev right? He's probably also a major stakeholder. He's a leader and has special code writing privileges I'd reckon. He should have been more responsible. How? so what is this "pressure" every pos guy is talking about here? is it related to the fear that the hacker would dump the NXT onto the open mkt and crash the price? that, by itself, tells you that the stakeholders are terrified of open mkt price discovery. Bitcoin doesn't care about those things and is happy to suffer from a price crash when those things happen as the community understands the sanctity of what a digital currency is all about. and it's not roll backs. i don't need to repeat myself but if you read what i wrote, JL could've avoided the wasted time and effort into making the patch if he'd taken the time to act as a core dev and leader should do and measure the consensus of the NXT community. for outsiders like me looking in, it makes me question the economic understanding of those in charge. like Amir says, the software can be a reflection of the political stance of its developer. regardless, i don't want to beat this to death. if the NXT supporters are happy with their actions, so be it. i just don't think it was handled correctly. |
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I must LOL at the conversation brought by cipherdoc here. Are you trying to say something at all or are you doing it for the sake of trolling?
I expected higher standards from a "legendary" user of the glorious Bitcointalk Forum.
At least, yesterday's Garzik posts agains NXT had some (tiny) valid points.
nice job attacking the messengers and ignoring the messages! |
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going to challenge the old high:  |
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incredibly relentless. no problems here:  |
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Also one of the benefits of nxt is the that the code is so simple to read and update, while the community is very anarchic and believers in choice and freedom that just about any person could have easily made that modification and released a fork. We didn't need JL to offer it. This is a true benefit of nxt, not something that should destroy the basis for the entire project as your suggesting.
As I understand it, JL is a core dev right? He's probably also a major stakeholder. He's a leader and has special code writing privileges I'd reckon. He should have been more responsible. |
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