Biden Visits Israel
Ladies and gentlemen, there's always something happening in this world, and today I want to dive into a few things that caught everyone’s attention.
You know, the Middle East has its fair share of problems, and I couldn't help but wonder why they're rolling out the welcome mat for Joe Biden. I mean, what's he really going to do over there, besides continually falling over and needing to have his ass wiped? Maybe his own party sent him there with their fingers crossed, hoping for something to happen that might save their party?
But let's not forget that life has two faces, just like the theater – tragedy and comedy. And, folks, I gotta say, Biden seems to be this week's joke, and it's not all that funny.
What's even less humorous was the manufactured short squeeze in BTC, which did a real number on those crypto-speculators. You see, everyone was cheering on the big institutions and professional traders entering the crypto market. But guess what? These folks aren't playing nice. They're putting out Mickey Mouse reports to bury the little guy, and you can bet your bottom dollar they'll keep messing around with crypto just for kicks!
Now, speaking of expectations, it seems like we'll need a bit more positive news in the run-up to Christmas. Not because the economy's doing great, mind you, but probably because some folks need those better valuations to snag a decent bonus.
I've been mulling over the idea of sticking my money into one of those AI-managed funds that promise to double my cash every two days. But you know what? I haven't found one that actually works. And here's a gem – I found a company of lawyers who swore they could get back my stolen crypto, but hey, I haven't had any crypto stolen in the first place. So it seems like a bit of a false promise, doesn't it?
Now, let me tell you, there are a whole bunch of clowns on the internet, and you've got to be careful who you trust. I just got back from a week in the UK, where the government claimed that wages were rising faster than inflation. If you buy that, and think consumers are better off, then I've got a bridge to sell you!
In this world of smoke and mirrors, where nothing's what it seems and everything's fake, the only tool left for short to medium-term trading is technical analysis. But even then, you've got to be cautious. Just look at what happened to the shorts in BTC – the big boys are out to make a quick buck, and they don't care much for us small fries. When they're chasing those million-dollar bonuses, even the traders at Black Rock and Vanguard forget all about ESG and DEI.
As for bonds and equities, well, I don't have a horse in that race right now. The dream of a return to 2% interest rates? It's just that, a dream. People need to brace themselves for higher rates. And while I'm generally pessimistic about equities, I won't rule out the possibility of a year-end rally – stranger things have happened.
Gold's been doing pretty well, and it won't be long before it soars to new highs. I've got a soft spot for oil, except when I have to fill up my tank, of course. With all the trouble in the Middle East, oil prices might just go through the roof. I've had this view even before those awful events in Israel. It's not about betting on war, but you can't deny that being short on energy is a lousy position to be in right now or in the near future.
Now, I've been talking about a basket of commodities to keep an eye on – copper, aluminum, wheat, and corn. In recent weeks, I've added some exposure to these markets and plan to add more if I see any further weakness. And you know what? I might just throw some silver into the mix. It's been lagging behind, but if gold takes off, silver might catch up in no time.
Now, I thought about having some BTC on my books, but I'd rather miss a rally than jump in at these current levels and see the value fall out of bed.
So, folks, that's where we stand, and let me tell you, it's a world of hurt out there. I'm just praying that a lot of people come to their damn senses, and bloody soon.
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