Gold Daily And Silver Weekly Charts - The Money Matrix - Sic Transit Gloria Mundi

As a reminder, today was the silver option expiration on the Comex.

The EU Summit meeting is on Thursday and Friday of this week, 28-29 June.

Next Wednesday is the US 4th of July holiday.  I would expect many punters would like to be leaving early this week if they can.

This is also the last week of the second quarter.

The US Supreme Court is expected to rule on Obamacare on Thursday,

SP 500 and NDX Futures Daily Charts - Limbo European Style

The market is holding its breath waiting to see what happens in Europe.

The European Summit meeting is June 28-29, which may cause some cross currents into the weekend.

This week is also the end of the second quarter. 

The US Supreme Court is also expected to overturn a portion of Obamacare on Thursday. That may produce a brief but sellable rally ahead of the EU and the weekend. Very hard

Back Again to Money - the Banking System and Money Creation - A Forecast of Sorts

Money in the modern fiat sense originates from a number of sources.  Among these is the conversion of credit potential into money by the expansion of debt.  For the sake of simplicity I simply refer to this process as 'credit.'

This does not mean that 'credit' is money, not in the least. Credit is a source of money, and amongst the most vital in a highly geared fractional reserve banking

Gold Daily and Silver Weekly Charts - Big Bounce on 'Flight to Safety'

Gold and silver 'popped' today despite the higher dollar and risk off trade. It happened shortly after I posted the NAV premiums chart, having seen some odd action on the tape, and watching the action closely into the option expiration tomorrow in silver. It is also expiration for copper.

The metals often act oddly around their Comex Option Expirations, depending on a number of factors.  If

SP 500 and NDX Futures Daily Charts - Risk Off on Euro Summit Concerns

It was a 'risk off' day as stocks were sold and investors moved into safer plays.

This is the end of quarter week, so the tape may begin to take a coat of paint in a day or so, barring more storms from the continent.

Funds tend to sell their losers first, then pump up their holdings to mark them as winners. So watch out for the old 'one-two.'

Interesting that gold and silver went

NAV Premiums of Certain Precious Metal Trusts and Funds - Silver Undervalued

The premiums of some of the more popular Funds are back to 'normal' levels, but certainly not overly enthusiastic.

And we see a significant divergence between the metals and stocks today, suggesting perhaps that the selling in the metals had been overdone. Stocks are sharply lower, but the metals are stubbornly positive. And yet the US dollar is higher as well. A flight to safety? It looks

Michael J. Burry's Commencement Address at UCLA - Credibility Trap and the Predator State

Burry is describing the credibility trap that followed in the aftermath of the financial fraud that gripped the developed world through the Anglo-American banking cartel, perhaps without realizing it in those terms. This is why there is no honest discussion of what has been happening.

The financial crisis is not over. The bank bailouts and subsidies are as much a part of the vast financial