Gold and Silver are in a relentless rally as the US dollar continues to drop. US equity indices continue to climb as well. This has the look and feel of a monetary reliquification rally such as we had seen in 2003-2007.
“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot