Bix Weir – Is Trump a Good Guy?


from Financial Survival Network

Bix Weir joined us today. He believes that the jury is still out on Donald Trump. We won’t know until Trump takes over and we see what he does with the Exchange Stabilization Fund. Will he turn his back on it or embrace it? It’s difficult to tell from Trump’s appointments exactly what his intentions are. Some of his people are definitely outside the mainstream, while others are less so. However, government by Tweet has definitely been shaking things up. And Bitcoin has been shaking up the monetary system too. Briefly breaking $1000 it’s taking a breather now at $900, getting ready for the next leg up.

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1 Response

  1. jj says:

    The Exchange Stabilization Fund does not control markets and in spite of the nonsense promoted on the web is rarely used. What has been driving equity markets and the dollar is international capital flows especially from Europe and Japan. Entities in Europe have been pulling capital from banks causing liquidity problems and others are converting euros to dollars. This has also been happening in India, Turkey and Venezuela all causing dollar strength.Large capital flows needs markets where there are huge pools of liquidity and that is the dollar and the Dow. Another thing happening for the last 4 or 5 months right up to the holidays is the fact the UK needs a weaker pound for their exports and currency traders in London have been hammering the EUR/USD crosses and driving up the USD/JPY cross causing additional dollar strength. The FED needs and wants a weaker dollar with NY creating short term weakness when London closes and London the next day doing it all over again. As this involves 4 of the 5 world’s reserve currencies and London having over twice the volume as NY, the daily volume has been in the trillions.
    All regulated markets trade the same with HFT algos moving short term price in the opposite of the long term trend and then adding trades riding this long term trend. Weir admits he trades no markets, doesn’t watch price movement and has no experience trading any financial market but claims that all markets are manipulated. Total nonsense. If you don’t understand capital flows you can’t understand what causes price movement in markets.
    It is also absurd that the bitcoin exchanges in China lie about their volume. China takes their capital controls very seriously and entities their have been using bitcoin to circumvent these controls. Today they announced a major crack down on the exchanges, money laundering and the flight of capital. If you are in the financial markets in China and lie and are corrupt, you are simply put to death.
    It is also nonsense that bitcoin is a place to hold wealth without the government coming after you. The federal court ruling recently in the US said that the IRS has the right and obligation to know your bitcoin transactions and they may confiscate if necessary. That is what happened to Kim Dot com. Federal officials were monitoring his bitcoin transactions and he was in New Zealand of all places. It simply makes no difference whether it is decentralized or not. The statement that no government has cracked down on bitcoin is nonsense. Just look what China did today.
    Weir is also incorrect with the metals rigging and the CFTC. The Deutsche Ban doc prove this and if if had any experience trading markets he would know this. A handful of banks were using the twice a day London metals fix lowering prices fleecing sellers and then raising prices gouging buyers. They were helped by the bank’s traders on the spot or cash market lowering pries and the raising prices taking out other traders stops along the way. This was all taking place in the physical market and not the futures market which is exactly what the CFTC found out some years ago. As this short term price movement down and then up was short term rigging, this did not effect the long term trend nor did it effect price movement on the Comex, ICE or LBME. Again if you don’t trade markets you simply are making statements that are unfounded!
    Most producers of a physical commodity hedge in the futures market their production. If the physical price goes up they let the hedge expire worthless and sell the physical. If prices fall they exercise the hedge for cash and still sell the physical and make money. This is the function of the futures market whether you are a wheat or corn farmer, cotton, coffee or sugar cane grower, oil producer or miners. These markets are designed to protect the producers from financial loss in case prices collapse. Weir simply doesn’t understand this as again he doesn’t trade financial markets.
    Him and Lutz and are doing a great disservice to people by leading them the incorrect path!

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