27 May 2014

Gold Daily and Silver Weekly Charts - Metals Hit For Comex June Options Expiration

"The new America, instead, is fast becoming a vast ghetto in which all of us, conservatives and progressives, are being bled dry by a relatively tiny oligarchy of extremely clever financial criminals and their castrato henchmen in government, whose job is to be actors on TV and put on a good show."

Matt Taibbi, Griftopia

As I reminded several times last week, today was an option expiration on the Comex for the precious metals, for the important June contract.

The metals were hit in an attempt at a 'mini-puke' in the manner of the Barclays digital options two-step, and for much the same reasons.

Who buys these metals options one might ask, given the sheer amount of deceit and manipulation that has been exposed in so many instruments and situations?  

That is a good question.  Probably the same people who buy many of Wall Street's bearish ETFs, IPOs, and other flawed products that are so adverse to wealth and value in their design.

And who are these people and the venues that continue to attempt to justify and excuse the inexcusable, and make the obvious seem improbable?

If it were not for the gullible, the naïve, and the careless, scoundrels would be otherwise obliged to find productive employment.

This too shall pass.  Nothing has changed.

Have a pleasant evening.