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

High Anxieties: The Mathematics of Chaos

"The hyper-rich are facing something worse than death: becoming poor. Do you think they will go quietly? I think they will do whatever it takes and sell it to us in the name of 'saving the system.'"

David Malone, Debt Generation
This documentary was started in 2007 by David Malone and Mark Tanner on commission from the BBC. David had finally persuaded the network that a financial collapse

The Loophole That Placed MF Global Customers At Risk Was Still Being Used

Apparently the 'loophole' that allowed MF Global to use customer assets for their own purposes and not set aside sufficient funds to cover them is still in place and still being used by some brokers.

The CFTC has sent a letter this month to all futures brokers telling them to stop using this loophole, and intends to close it through additional formal actions.

Change occurs, but slowly.

NY

Bill Moyers With Matt Taibbi and Yves Smith on the Banks - The Psychopathy of Wall Street

"Too many people hold the idea that psychopaths are essentially killers or convicts.

The general public hasn't been educated to see beyond the social stereotypes to understand that psychopaths can be entrepreneurs, politicians, CEOs and other successful individuals who may never see the inside of a prison."

Dr. Robert Hare





Source

Gold Daily and Silver Weekly Charts - Ending a Week of Shenanigans

Well, we can say goodby to this week, and good riddance to what proved to be a rough week for the metals bulls and miner mavens, except for the good news that Harvey Organ's illness was not life threatening and he will be fine it appears.

As you may recall, I warned about a 'hit' on the metals for FOMC meeting Tues-Wed. But I expected there to be a rebound and then another hit next week for

SP 500 and NDX Futures Daily Charts - Russell Rebalancing Today - End of Quarter Next Week

This was a rough week for trading as Benny did not please, but only tease.

The bank downgrades spooked shares but that may have been overblown. I think we saw selling this week tied into some technicals, including the Russell rebalancing, and the clearing of the decks for the end of quarter tape painting exercise next week, if nothing more blows up in Europe.

Next Tuesday 26 June Is Silver July Options Expiration - Shenanigans Reminder

Perhaps the reminder is a bit late, and the shenanigans have already occurred.

Although both gold and silver were hit hard around the FOMC meeting announcement, silver has been hit a bit harder.

Most curiously in yesterday's big down day the overall open interest EXPANDED by about 6,000 contract, mostly in the outer months of Sept - Dec. My friend Dave brought this to our attention this

Some Additional Questions For Jamie Dimon, Empereur de la République

“When a government is dependent upon bankers for money they, and not the leaders of the government, control the situation, since the hand that gives is superior to the hand that takes."

Napoleon Bonaparte
Interesting questions, but unlikely to come up at Mr. Dimon's next team building session with the Congress. They forgot to ask about this area while they were fawning all over the man, asking

Gold Daily and Silver Weekly Charts - Goldman Says 'Sell' And So They Do

Stocks were shaky but unchanged this morning, when Goldman came out and issued a 'sell' on the SP 500.

This shook the markets, but what really started them sliding were rumours that spread across the financial news channels and trading desks that Moodys would downgrade 17 global banks tonight, with a three level downgrade on Morgan Stanley.

Now whether this was true or not, the selling

SP 500 and NDX Futures Daily Charts - Goldman Signals a Sell Off

The economic numbers came in a bit shakey this morning, but stocks were holding in as the metals were hit.

Interestingly enough the financial short ETF FAZ was running negative while the broader short ETFs were showing gains.

Goldman shook the markets with a 'sell' on the SP today, and then rumours were abounding of a big downgrade of the banks by Moody's tonight, including a specific

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

Stocks and commodities started selling off hard today on rumours that Moody's would be downgrading 17 banks tonight, including a triple downgrade on Morgan Stanley.

Let's see if this really happens as the trading desks said. I found it interesting that just before the rumour came out, the financials were rallying and FAZ, the triple bank short, was running higher, contra market.

How Wall Street Financial Companies Stole Billions From Main Street

Funny how these stories of widespread and systematic financial corruption are so undercovered by the main stream media. Maybe it is because 'truth is a dagger pointed at their heart, which is their pocketbook.'

This is a long piece of investigative journalism, but well worth reading.

It is too bad that the Banks had their major nemesis, Eliot Spitzer, taken out by the Feds under Bush II. And

Gold Daily and Silver Weekly Charts - More Wiggle Waggle

The Fed did what was expected, and the metals were hit going into this FOMC day, as expected.

Boring. Don't let these jokers muscle you out of your positions with their intraday shenanigans.

Let's see how the real trend develops.

I am long bullion and short stocks.

SP 500 and NDX Futures Daily Charts - Much Ado About Bernanke

Proctor and Gamble cast a pall over the real economy stocks as they lowered forecasts based on a weak consumer.

The wiseguys had some fun muscling prices after the Fed did the obvious, extending Operation Twist, and nothing else.

MF Global Customers "Get the Chance" To Auction Off Hopes For the Full Return of Stolen Funds

Great news for customers who had their money stolen by Wall Street!

No need to worry about its return, now they can sell their claims at a discount to -- Wall Street!

Perhaps we can get rid of the FDIC and cumbersome banking regulation and let people auction off their looted savings deposits and CD's when the Bankers lose their money by gambling on derivatives.

And as for education, well,

Gold Daily and Silver Weekly Charts - Pre-FOMC Action

Please notice that I have never attempted yet to put one of the arcing lines of support and resistance yet this year.

When I do, it will be because the chart has said something decisive. So far we are in what Hugo Salinas-Price calls the 'wiggle waggle.'

There was an obvious divergence from the usual pattern in stocks and gold today, most likely due to tomorrow's FOMC meeting.

SP 500 and NDX Futures Daily Charts

FOMC tomorrow.

Europe stills looms.

SP 500 September Futures Daily Chart Closeup

Today's action added some refinement to the daily SP 500 futures chart.

How this formation resolves, up or down, may depend on what happens in the next few days with regard to Europe and the Fed as you might expect.

The Secret State and the Tyranny of the Faceless and the Lifeless

“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself.

For the traitor appears not a traitor; he speaks in

A Closer Look at the SP 500 September Futures Daily Chart

I wonder if Benny will give the market what it needs on Wednesday.

They generally like to hit the metals on an FOMC meeting day.

Gold Daily and Silver Weekly Charts - Band-Aids and Butterfly Kisses

Nothing has been resolved in the international monetary and sovereign debt crisis.

This is all band-aids and butterfly kisses, soothing to little children, but nothing on the order of the change and reform that will be required to bring stability and growth back to the western economies, including the UK and the US.

The Banks must be restrained, and the financial system reformed, with balance

SP 500 and NDX Futures Daily Charts - Whistling Past the Parthenon

The market rallied last night by the 'win' of the 'pro-bailout' party. It looks as though they *might* be able to form a coalition with the center-socialist party at least on the assumption that the bailout can be renegotiated.

So the market came in ready for a rally that quickly evaporated, although stocks were able to finish unchanged.

The key news today is that NYSE volume was only about

Update on the Greek Political Situation

The Greek elections are of keen interest to many who do not normally follow their politics. And judging from questions I have received, not everyone in North America understands the mechanics of parliamentary government.

This is the best update and description of the process which I can find.

I cannot speak to accuracy of the PASOK party and the terms of their willingness to join a coalition

MF Global: Follow the Customer Money - The Economics of Demagogues

One of the key facts, which ought to have been apparent in the first week or so after its collapse given the tracking mechanism of wire transfers, is 'who got the customer money' and 'who received a preferential return of funds in the last weeks when the brokerage was failing?'

That we still do not know who 'got the money,' although recent admissions show that JPM did in fact receive about $768

Greek Election Final Results - A House Divided

Click here for igraphics.gr

The pro-austerity party did not receive enough votes to promote a stable government without making significant coalition arrangments with one or more of the other parties. And it appears that none of the others will join with them on their austerity platform.

So as we suggested, nothing has been resolved for now.

The Guardian UK
"Syriza's Alexis Tsipras has

In memory of Journalist Carl von Ossietzky

"We cannot look to the conscience of the world when our own conscience is asleep."

Carl von Ossietzky


"Silence in the face of evil is itself evil: God will not hold us guiltless. Not to speak is to speak. Not to act is to act."

Dietrich Bonhoeffer


"Only one who spent the years following the First World War in Germany can fully understand how hard a battle it was that a man like Ossietzky

Bill Moyers and James K. Galbraith Talk About the Financial Crisis and John Kenneth Galbraith

Gold Daily and Silver Weekly Charts - Market Manipulation and Special Message from Jim Sinclair

A Few Questions, One Answer
By Ted Butler
June 15, 2012

Please read this article carefully because I’m disclosing for the first time that the U.S. government has given JPMorgan the green light to manipulate the silver market. This fact explains the shenanigans in the silver market. It answers all the questions and exposes this tawdry affair for all to see.

The scandal recently became more

SP 500 and NDX Futures Daily Charts - Muscling the Shorts On the Quad Witch

The futures charts have now been rolled over to the September front month.

Big things are expected to happen in the world economy and quickly. It will be most likely that nothing really decisive happens to change this debt crisis, but let's keep an open mind and see what the Greeks do, and what the central banks do in response.

Long bullion and short stocks.

See you Sunday evening.

The Senate's Embarrassing Performance in the Dimon Inquiry

Apparently I was not the only one who could not bear to watch this. As I said, it was iffy going, but Jim DeMint pushed me right over the edge.


Senators Grovel, Embarrass Themselves at Dimon Hearing - Rolling Stone


And here is Jon Stewart's take:

The Daily Show
Get More: Daily Show Full Episodes,Political Humor & Satire Blog,The Daily Show on Facebook

Former Goldman Sachs Director Rajat Gupta Found Guilty on Four Counts of Insider Trading

Jury deliberated only two days, finding Gupta guilty on four counts of insider trading, and innocent of two counts.

This was clearly a case of failing to maintain GPS coordinates when burying the bodies for your masters, and failing to provide sufficient campaign donations to the plutocracy.

The pampered princes have thrown another one of their Immortals to the wolves.

So Lloyd has given up

Gold Daily and Silver Weekly Charts - Rough Waters Ahead

"All this wiggle-waggle of the gold price below or around $1600 is simply the result of official efforts to delay the appearance of $2,000+ gold.

That is the big event ahead, whose appearance will have deep psychological impact on markets, because the establishment of $2000+ gold will reinforce the idea that gold has still much higher to go."

Hugo Salinas-Price
Central Banks Stand Ready to

SP 500 and NDX Futures Daily Charts - The Old Whipsaw Ahead of Quad Witching Expiration

"Those that have so much power over others as to be able to oppress them have seldom so much over themselves as not to oppress."

Matthew Henry

There was some profound whipsawing in the stock futures market today as rumours were spread liberally by trading desks attempting to exit positions and square their books ahead of tomorrow's big option expiration and the exogenous events of the next

Blaming the Victim and Other Biases and Their Use by the Predator Class To Subvert the Unwary

It is an occasional human fault to get pulled into the habit of 'blaming the victim.'

Most people do not do it regularly, except in the case of some uninformed prejudice or in response to misinformation.

But some people seem to do it more often and sometimes habitually. Why is that?

As we might imagine, nothing can make a certain type of person feel better about themselves than attributing

Allen Stanford Sentenced to 110 Ten Years in Prison For Ponzi Scheme

Breaking news...

High living Texas banker Sir Allen Stanford, often referred to as 'the other Madoff,' was sentenced today to 110 years in prison for the Ponzi scheme he operated by selling fraudulent certificates of deposit issued by his Antigua-based Stanford International Bank Ltd., and sold in the U.S. by his Houston-based securities firm, Stanford Group Co.

The US Justice Department had

Simon Johnson: The Institutional Flaw At the Heart of the Federal Reserve

This is a long 'thought piece' by Simon Johnson, an eminent US economist and professor at the MIT Sloan School of Management.

It exposes the inherent conflicts of interest at the New York Fed, the history behind that structural flaw, and the problems it creates in a time of high powered money and financialization, with the Fed assuming even more regulatory powers from a craven Congress.

This

Gold Daily and Silver Weekly Charts - The Rolling Global Financial Crisis Intensifies

"Let me make it clear straight away – the lies, corruption, cowardice and greed of Spanish bankers and government officials is nothing special. What is happening in Spain now, reminds me of Northern Rock in the UK, Hypo in Germany and CountryWide in the US. So please do not think that I dislike Spain or of the ordinary people of Spain. The people I detest in Spain are the same people I detest

SP 500 and NDX Futures Daily Charts - Edging Fitfully Towards Option Expiration

If you listened to the financial news today and the comments about Jamie Dimon's appearance before the Senate you would think that the financial crisis and bailouts had never occurred.

And that is what they call 'moral hazard' and why it will happen again. All of it.

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

A decided lack of euphoria, in keeping with a Greco-Spanish chill over all the markets.

Acemoglu and Robinson: Why Nations Fail

In a generally deferential and ineffective Congressional spectacle, some say minuet and I think kabuki dance, Jim DeMint's 'questioning' of Jamie Dimon, who responded to most serious questions with poker faced whoppers, today pushed me over the edge, and so putting the internet feed on mute, I thought I would take a moment to bring the study Why Nation's Fail by Acemoglu and Robinson to your

Charles Ferguson: Predator Nation, Global Predator Class

"Over the last thirty years, the United States has been taken over by an amoral financial oligarchy, and the American dream of opportunity, education, and upward mobility is now largely confined to the top few percent of the population. Federal policy is increasingly dictated by the wealthy, by the financial sector, and by powerful (though sometimes badly mismanaged) industries such as

Gold Daily and Silver Weekly Charts - Metals Move Higher With Stocks

There is a 'quad witch' in stocks this Friday so be prepared for some extra volatility.

Gold is approaching key intermediate downtrending resistance again.

SP 500 and NDX Futures Daily Reports - Muscling the Shorts Ahead of Quad Witch

As a reminder this Friday will be a 'quad witch' on the stock indices.

Also the Greek elections will be held this weekend. They may determine the stance of the Greek people towards the Euro bailout and austerity offers.

This could cause quite a bit of 'technical trade' and sheer muscling of price to meet the big players agendas.

This is the natural result of markets dominated by hot money

Chris Whalen: Will Jamie Dimon Tell the Truth, Because He Hasn't Done So Yet

"Of all forms of tyranny the least attractive and the most vulgar is the tyranny of mere wealth, the tyranny of plutocracy."

John Pierpont Morgan


Oh you must mean the vaporized money...
Chris Whalen makes some interesting observations and cuts to the heart of the matter, although he sometimes falls into the morality of the income statement.

The reactions of the CNBC spokesmodels and Andrew

Gold Daily and Silver Weekly Charts - Metals Rise in a Flight to Safety - Refuse to Lose

“Yet while the rest of the populace was suffering, the rich just got richer. In 2009 and 2010, years in which millions were unable to find work, the top one percent reaped 93 percent of the 'recovery' income, and corporations are making more than they ever did. And the Republicans can still propose even further cuts in the taxes of 'job creators' whose only job creation has been for their own

SP 500 and NDX Futures Daily Charts - Rough Day for the Bulls, Tyranny of Money

"There have been tyrannical gods, and there is the God who makes us free.

Tyrant gods, nowadays, do not, as a rule, assume the names of gods. They prefer pseudonyms. But their tyranny remains the same."

Henri de Lubac

There was euphoria to the upside in the overnight futures as the Spain bailout cheered the markets.

The reality of the situation and the impending Greek elections chilled the

Caption Contest

Playing with the big buoys.

Ben 'Big Ones' Bernanke

The Fed has a printing press, but it takes a pair of these to use it.

Ben is always ready for the next tsunami.

Thanks for the loan Jamie!


What do you think?

Gold Daily and Silver Weekly Charts - Monkey Shines

“What happened yesterday in the gold market was very interesting. One full hour before Bernanke's testimony, the bullion banks started selling. Over the next 4 hours, the bullion banks sold the equivalent of 515 metric tons of paper gold. This was in just 4 hours, and again, the selling started one hour before Bernanke’s testimony...

The real question here is, how could an entity begin

SP 500 and NDX Futures Daily Charts - Looking For Mr. Goodbar

Spain is asking the ECB for 'help' tomorrow. The anticipation there help fuel some of the speculative games today.

Is this like asking for an invitation to one of Signor Berlusconi's bunga bunga parties?  I think it would be of the foremost importance to discuss all the specifics in advance.

So far the IMF and ECB are not helping resolve the situation.  One has to wonder what they are thinking

Chris Hedges: Resistance and Faith, Faith and Unbelief - Prague Spring 1968

“Each time a man stands for an ideal, or acts to improve the lot of others, or strikes out against injustice, he sends a tiny ripple of hope, and crossing each other from a million different centers of energy and daring, those ripples build a current which can sweep down the mightiest walls of oppression and resistance.”

Robert Francis Kennedy


"Even a purely moral act that has no hope of any

Gold Daily and Silver Weekly Chart - Providing Air Cover for Ben

Obvious, heavy-handed, and in no further need of comment.

SP 500 and NDX Futures Daily Charts

"Before now, I had never really understood how the 1930s could happen. Now I do. All one needs are fragile economies, a rigid monetary regime, intense debate over what must be done, widespread belief that suffering (for others - Jesse) is good, myopic politicians, an inability to co-operate and failure to stay ahead of events."

Martin Wolf, 5 June 2012
The fingers of the Anglo-Americans are

Gold Daily and Silver Weekly Charts - The Fear

Gold was threatening to break out of the intermediate downtrend today but was smacked down rather hard just after the Fed beige book release.

The meme from the spokesmodels was that the economy is doing well enough so that no QE is needed for recovery, and this was implied by the Fed's observations.

I think there is fear and foreboding in Zombieland.

SP 500 and NDX Futures Daily Charts - Hogarth's The Cockpit

Today seemed a more 'technical trade' than anything else in equities, which were largely unscathed by the Fed Beige books as the demimonde informed us that the US can have a recovery without any more QE, making stocks cheap and gold dear.

Give it a week or a day.

The American Political Process In One Picture

"Money! It is money! Money! Money! Not ideas, nor principles, but money that reigns supreme in American politics."

Sen. Robert C. Byrd, March 20, 1997

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

I have my eye on 1320 on the SP 500 futures as a key resistance.

Gold is attempting to break out here.

MF Global Hid Risk To Avoid Capital Requirements While FINRA Regulators Looked On

One of the common elements in most of the great financial debacles seems, at heart, to involve accounting fraud that is tolerated and excused by all those entrusted with the safeguarding of the public interest and the innocent.

What characterizes the modern financial system, and its vast influence on the fabric of society, the political process, and the dialogues of public policy is the power

Gold Daily and Silver Weekly Charts - Stayin' Alive

The markets are waiting for the Greek elections, a resolution of some sort to the European situation, and the Fed.





"All I wanted was just what everybody else wants, you know, to be loved.

Every man I knew went to bed with Gilda-- and woke up with me."

Rita Hayworth


As a side note, this brought back some fond memories for me. SwissAir would sometimes feature an old movie like 'Singing

SP 500 and NDX Futures Daily Charts

Marking time more than anything else.

I recovered my computer platform from a catastrophic hardware failure.

Just one of those things.

Puzzled About QE? Watch the Adjusted Monetary Base

Quantitative easing is generally reflected in the expansion of the Monetary Base of the Federal Reserve Bank.

There could be instances wherein monetary expansion in the nature of QE could be done 'off balance sheet' in the manner of swaps, etc.

But in general, unless the monetary base starts contracting, not just stable, then QE is still in place. It can change to a form of 'qualitative

Are Stocks In a New Bear Market?

Maybe they will be, but the charts do not show that yet.

I prefer to use the Russell 2000 when determining such things, because the other indices are too narrow and subject to single sector vagaries and manipulation. This is especially true of the Dow Industrials and the NDX.

So far what we have seen is about a 50% retracement of the most recent rally leg.

One might also make the case that

Gold Daily and Silver Weekly Charts - Egan Jones Downgrades the UK

Intraday commentary here.

Egan Jones downgrades the sovereign debt of the UK after the bell to AA-.

SP 500 and NDX Futures Daily Charts - Quiet Day Despite Early Volatility

The light volumes made the Spoos amenable to the old push and shove.

Markets are still very edgy, with today as perhaps just a short covering pause and some profit taking on the bear side.

Gold Is At Imporant Intermediate Term Resistance - Long Term GATA Has It Right

After the spectacular rally of last Friday it is natural for gold to pause and consolidate here.

However, I wanted to make sure you could see the position of the gold price with regard to the intermediate trend.

This is the key resistance which I referred to last week, clearly visible in the chart below.

The hedge funds were leaning very hard on the short side as we had shown in some of the

Chris Hedges: Days of Destruction, Days of Revolt

The video starts after the introductions.

"Unfettered, unregulated capitalism...turns everything into a commodity, human beings become commodities, the natural world becomes a commodity, that it exploits until exhaustion or collapse. In essence it cannibalizes itself, and this is the process that we are undergoing."

Chris Hedges
The essence of statism, of the far left or the far right, is

Gold Daily and Silver Weekly Charts - Did We See A Bottom In Gold Today?

"Quite unexpectedly, except perhaps among a handful of long-time gold advocates, gold is quietly and gradually moving back to its centerpiece role in international reserves. Stretched and threatened financially, nation states have begun accumulating gold for the same reason private individuals do -- as portfolio insurance to cover a wide assortment of economic uncertainties.

What's more, this

SP 500 and NDX Futures Daily Charts - Something Wicked This Way Comes

"The yield on the 10-yr Treasury is at a record all-time low and the yield on the 30-yr Treasury - the Big Daddy - is below it's lowest point during the Lehman crisis. That's not just warning signals flashing, that's the equivalent of financial nuclear air raid sirens going off.

What this means is that the liquidity is being sucked out of the global financial engine and is going into

Dude, Where's My Deflation? Yes the Fed Has Lowered Rates and Grown Money Supply But...

My email box pretty much exploded today as the metals rally and divergence from stocks woke up the audience. And the action in my own accounts tended to be diverting, and not unhappily so. Sorry if I have been slow in getting back to you all, and in answering your questions.

Let's take a look at the monetary scorecard and a few ancillary measures to see how Ben and His Merry Pranksters are

Joe Stiglitz On the Price of Widening Inequality - The Tsar Nicholas II Syndrome

"Is there a greater tragedy imaginable than that, in our endeavour consciously to shape our future in accordance with high ideals, we should in fact unwittingly produce the very opposite of what we have been striving for?"

Friedrich Hayek
I don't know if I would call that a great tragedy, or a greater irony. It most likely depends on the spirit with which one undertakes that endeavour to shape

Gold, Silver, and the May Jobs Report

"Through a set of economic policies designed to bail out and subsidize failed and often fraudulent corporate enterprises, while actively promoting a false sense of confidence to support those policies, the public has become exposed, by those very people entrusted to protect them, to dangerously high levels of hidden counterparty risks.

The cautionary functions of the media, the political