Gold and silver were being hit today, for several reasons. The yields on Treasuries were rising because of the record high issuance of notes and bills his week in the neighborhood of a quarter trillion dollars. That drove the US dollar higher in the short term, and helped drive down the metals.

And of course we will be having an option expiration for precious metals on the Comex this week, and so all the pick pockets, cut purses and dips will be taking their usual cuts by managing prices in their desired directions.This has become so regular an occasion that you might tell the time by it.

We may also see some action around the release of the FOMC minutes tomorrow at 2 PM. They like to talk bearishly between crises.

Stocks were weak because the higher rates will make it less convenient for companies to buy back their own stocks through debt issuance, which as I am given to understand is the major source of stock buying at these lofty valuations.

The US financial system and the elite establishment are morally and intellectually exhausted. They produce little, for the most part, are draining the nation of its resources in endless wars and financial control frauds, while they allow its systems and infrastructure to decay.  

And having been soundly rejected in the last election, they are looking for some scapegoats to blame. Since they are perfection itself, they could have not possibly lost fairly, being so deserving of the win.

They rule not by merit and faithfulness, but through fraud and force. And as the fraud fails, the force must inevitably increase.

How are the mighty fallen, and their instruments of oppression, broken.

 

 

 

 

 

 

 

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