"Evil is like a shadow, it has no real substance of its own, it is simply a lack of light. You cannot cause a shadow to disappear by trying to fight it, stamp on it, by railing against it, or any other form of emotional or physical resistance.
In order to cause a shadow to disappear, you must shine light on it."
Shakti Gawain
There was intraday commentary on the metals here and here.
And JP Morgan finally took delivery of some of the bulk of the gold contracts they have been 'stopping' this month, and plunged the level of registered gold on the Comex down to a new multiyear low.
The decline of physical gold in the ETFs of the West continues apace.
What are we to do?
Just like there are too many real people for The Recovery™, compared to just the right amount of virtual corporate people, so there does not seem to be enough physical gold, relative to paper claims on gold.
US Treasury Secretary Jack Lew informed us this afternoon that the 'budget deal' did not address the budget ceiling. He expects the US to be bumping its political head against it no later than early March, unless another deal is reached, and more hostages are taken.
Damned useless eaters. Order must be restored.
Not to worry. The Masters of the Universe are working on a fix.
And that is what might well concern us the most.
Have a pleasant evening.
