No coffin holds them safe for night.Our Vampires live amongst our ranks;And haunt us from their central banks.A. S.
27 October 2014
Gold Daily and Silver Weekly Charts - Spooky Janet and the Zombies of the American MIddle Class
As a reminder tomorrow is a precious metal options expiration on the Comex.
Wednesday is an FOMC announcement.
Let's see if the hinted extension of QE transpires. As if.
This afternoon Dennis Gartman forecast that crude oil would literally drop to 'ten dollars' and would, over the next twenty or so years, go the way of whale oil as it is completely replaced by fusion energy (supplied by Lockheed for example). He also urged the US government to start selling oil from the Strategic Petroleum Reserve. Looks like it might be time for Russia to throw in the towel, right?
I wonder what Dennis' book might look like? Or whose it might be?
A technology is only as good and effective as its implementation and 'roll out' into general availability. And effectively eliminating the need for oil in about twenty years would be an ambitious infrastructure project for even the best organized of societies.
This from a country that cannot even repair its bridges now, or provide high quality rail transportation, or find the will to modernize its power grid, or a real estate title system that is not based on massive neglect and fraud, or a truly high speed internet system, or a capital allocation equity market with a level of integrity than would not be deemed criminal in a Las Vegas casino, or manage a single high level prosecution in one of the greatest financial frauds in history, or hold an election where people are not purposefully denied the right to vote by artificially complicated last minute ID rules and ridiculously long waiting lines.
Or manage a healthcare system that doesn't look as though it is price managed by Scrooge & Marley, or perhaps Sweeney Todd.
Have a pleasant evening.
Posted by Jesse at 4:35 PM