The UTP SIP experienced momentary interruptions in quote dissemination across all UQDF Channels from approximately 10:57 to 11:03. All channels are now operating normally.
The GOFO rate has been negative now for a historically unprecedented 30 days.
The only conclusion that can be drawn from this situation is that the bullion banks in London are scrambling to find physical gold that can be delivered into the massive demand coming from Asia, specifically China. I also believe that the duration and severity of the negative GOFO will translate directly into a commensurate move higher in gold that will shock everyone.
Unfortunately, the best we can hope for is that the next move in gold does not culminate with the cataclysmic currency reset that we all know is coming – i.e. the dollar is replaced as the world’s reserve currency, which will render the U.S. largely destitute:
I’m not worried about how high in price gold is going, I’m worried about what the world around us will look like when it gets there
GOFO is the interest paid if we lend gold and borrow US$ for the same period. If we split this swap into its two components, borrowing US$ and lending gold, we see that GOFO is approximately LIBOR minus the Gold Lease Rate (GLR). This assumes that the two pieces of counter-party risk compensate each other, namely the risk that the gold is not returned and the risk that the currency principal is not paid back. LIBOR is the London Inter Bank Offered Rate, the interest on an unsecured US$ loan, and GLR the Gold Lease Rate, the interest on an unsecured gold loan.
Zerohedge suggest AAPL was the cause
Originally posted by Senduko
It didn't take long lol.
This is highly entertaining and mildly informative
Wondering why the ES is soaring? Because the NYSE just broke too.
NASDAQ HAS DECLARED SELF HELP AGAINST NYSE ARCA (ARCA)
NASDAQ DECLARES SELF HELP AGAINST NYSE ARCA AS/OF 15:26:42 E.T
NYSE ARCA HAVING DIFFICULTY PROCESSING OUTBOUND TAPE C QUOTES
And BATS too:
BATS HAS DECLARED SELF-HELP AGAINST ANOTHER MARKET CENTER
BATS SAYS ROUTING TO NYSE ARCA HAS BEEN SUSPENDED AS OF 15:39
An absolute circus meant only to preserve confidence in a rigged, manipulated system based on incorrect electronic trades.
In response to the statement that the Nasdaq had declared "self-help" (refused to route orders) against NYSE Arca, NYSE spokesman Rich Adamonis said, "There are all kinds of false positives for self help, and people declare against us sometimes for no reason at all."
Self-help can occur when there is any variation in data transmission, for example if data transmission occurs in 1 millisecond, and if it moves to 2 milliseconds, exchanges can declare “self-help” even if the rest of the world is doing the same thing.
Originally posted by Senduko
Does anyone know what his referring to? Hindenberg omen perhaps?
thought this was interesting comment aswel Cluster # of Hindenburg omens, market halts, 10 year spiking, closed door presidential economic meetings, bullish