Bibi1581 Blog For 11/29/2017: Evening Edition

The market penetrated the 23450 support level and collapsed down to 23358 level, an indication that “Yellen’s bulls” are running away from the market in expectation of tighter credit and less support by the new Fed chief Powell. Then the news that US House has passed a tax bill reignited the bullish sentiment and led to 200 points reversal.

The market was flat after Yellen’s firing from the Fed, so the ominous plan of balance sheet contraction that will dump 600 billion of Obama’s monetary septic tank securities on the market every quarter is clearly on hold, a move suggesting flat interest rates due to flat dollar that would surely bleed the profits of the multinationals. The budget deficit for the last 8 months is 460 billion, in line with Obama’s and the GOP planned country wide tax cuts will explode it to new highs. All this dance and song ignores Comrade Un’s playing with matches supplied by Mr.Xi, and there are talks that that Saudi Arabia may be forced to peg the oil price to Chinese yuan, a decision that will unleash a deluge of paper dollars. Yet like an insane inmate in an asylum beating its bloodied head in a stone wall, Yellen printing money is on hold for now, halting markets push upward and leading to formation of a gold price bottom. Last week President Trump put an end to all those speculations by appointing Jerome Powell as the next Fed chair, finally showing Obama’s not so secret weapon Janet Yellen the door, a decision met with a cautious rally on Wall Street. A close look at the new budget indicates that states like California and New York who have been leading the fight to dethrone or impeach Trump may be in for a nasty surprise if the mortgage deduction is phased out, leaving millions of mansions above $500,000 with a hefty uptick in mortgage payment, a sure prelude to a crash.

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We warned that it appears there is organized attempt to remove President Trump from office and if this activity is not curtailed soon, market will open on gap below 20,000 with next stop 17300 and 11800 support levels.

We have to wait and see if new Fed chair Powell will attempts to destroy Eurasian block by sending gold prices below 1000, despite the fact  both Russia and China have been buying their whole gold production in local gold backed currency instead of money printing machines. In other words, US has lost controls of the precious metals complex, and with Trump’s infrastructure and tax cut campaign the National debt will soon be at, or over 30 trillion dollars, since D.C. swamp alligators have no intention dropping their pet projects. Read “Ziban Must Die” for more details on the coming collision of Trump’s administration with “Deep State” operators funded by the billionaires supporters of the New World Disorder.