Yesterday the stock market dumped again in a really nasty way. It was soaring on Wednesday supposedly in celebration of Biden hurting Sanders in the primary. But it collapsed the day before that even after a surprise 50 rate cut from the Federal Reserve. And now this morning the DOW is poised for another big gap down.
These are roller coaster stock markets for now.
It may seem to you that the market is acting illogically, but big intraday swings are normal after the big dump we had a last week and what happened yesterday does not change my view that we are in some sort of sideways action now for the markets as we are not going through a 2008 style financial meltdown this month.
What is steady now is gold.
Gold went up again and is heading towards $1710 in defiance of those that doubted the yellow metal last week. Newmont mining touched an intraday 52-week high on Wednesday and then simply made a new closing high yesterday. Everything is in gear for gold, silver, and the mining stocks even if the masses still remain oblivious to what is happening with them. Gold is the only truly certain thing left in the financial markets now.
If you recall the financial website Zerohedge got banned from Twitter last month. This raised the eyebrows of everyone like myself who creates content in the financial world on the internet. I talked with Mark Jeftovic, who is an expert in these areas. Mark is the CEO of easydns.com, a company he co-founded in 1998, so he has been on the front lines of the internet industry as it has grown so we had a great discussion on this topic. He also runs spokentome.media, which is an audio book company that has published authors such as Charles Hugh-Smith and David Stockman. Listen to this interview here with Mark.
Mark has released a book titled Unassailable: Protect Yourself From Deplatform Attacks, Cancel Culture, And Other Onlilne Disasters about this topic and what to do with it. Even if you are just posting on Twitter and Facebook it is very interesting as there are things you need to be aware of and this book talks about how things have evolved. You can get the book from Amazon by going here:
https://www.amazon.com/Unassailable-Protect-Yourself-Deplatform-Disasters/dp/1999285212
-Mike
