11 July 2011

Gold Daily and Silver Weekly Charts - Maguire Talks about China, Gold, and Silver



Andrew Maguire's interview with KWN was released today and you can read my comments and listen to the interview from here.

Both gold and silver were hit by a sharp bear raid starting around 10:30 NY time, as an intro to Obama's press conference on the US debt ceiling folderol.

I think that deal is all but done, and we are in the theatrics stage now, as both parties wish to impress their respective constituents and frighten them into complacent acceptance.

Mr. Obama is a skillful negotiator and rather crafty, but seems to lack a moral compass. In other words, a consummate politician, but not a leader for a global crisis, in the manner of a Kennedy, Churchill, or Roosevelt.

I do not wish to be rude, but alas, the other choices amongst his peers of both parties do not seem particularly enticing. There seem to be few attractive alternatives these days in that venal and craven Munchkinland called the US intellectual and political leadership, amongst all the self-seeking opportunists, corporate sock puppets, narrow ideologues, mean spirited frat boys, and servile sycophants.