“Rudeness is the weak man's imitation of strength.”
Eric Hoffer
And the imitation of wisdom, or at least superior knowledge, as well.
We are in an age when it is fashionable to be lean of thought, and long of bravado. At least it seems to be all the rage on financial and social matters.
The veneer of respectability has worn so thin on the Comex that they barely make the effort to keep up the appearances of price discovery.
All that heavy pressing down on the prices all week was released in a single realization this morning that there is no sustainable recovery in the US. As if that was in any way ‘news.'
The Fed will be hard pressed to raise rates by any significant amount. They would very much like to do so for policy reasons, and perhaps as a boost to their financial cronies.
But it is now becoming more likely that they will continue to degrade the currency in order to prop up this miserable economy that we have today in which a very few are garnering the lion's share of all the proceeds for themselves.
The Bucket Shop was very quiet on the delivery report, and the warehouses, those museums to price discovery, continued their slow bleeding out of bullion.
Gold and silver are flowing from West to East.
The miners were particularly advantaged today which was a nice change of pace.
Follow through on the charts of bullion is what is needed, and I think it will be realized one way or another. Either by the modest restraint of the pool operators at the prospects of an embarrassment at the least, and a breaking of confidence.
And if not that, then a hard stop to the scheme, and a general re-ordering of the flows of wealth and stores of value, not in an orderly manner, but under duress.
Either way you look at it, the current situation will not stand.
Later this evening I hope to have some news on the flows of bullion out of London and New York.
The economic news will be a bit light next week, but earnings are just around the corner.
Please remember those who have none to care for them.
Have a very pleasant weekend.
