Crazy days in the metal trade as the recent bear raid, using the infamous Dr. Evil strategy, did not stick.
The people and traders of India and China may have liked the buying opportunity, but I suspect it just gave Blythe and her merry pranksters a headache.
Most commentary on the economy carried on the television financial networks is astonishing. How many moons do these people have on their planets?
It is almost a curse to know anything these days. But it is as I forecast it, so it should come as no surprise. The monied interests will keep pushing their agenda until they and the country hit the wall, in the manner of the obsessive-compulsive addicts that they are, like an alcoholic who finally wraps his car around a tree. And then the job of rebuilding and recovery can begin.
The next big events for the metals are likely to be the FOMC September 20-21 meeting, and the Comex October Option expiration on September 27.
I doubt that Obama will say anything useful, other than staging another raid on Social Security with a payroll tax cut, an infrastructure bank, and perhaps a refi program, all vetted by his Wall Street cronies.
The only thing he could do to satisfy this Jacksonian is to fire a number of his appointees in the CFTC, SEC, and Justice, bring in Eliot Spitzer as his Attorney General, William K. Black to head the SEC, Liz Warren at Consumer Protection, Bart Chilton as Head at the CFTC, Robert Reich at Labor, Ron Paul at Defense, Michael Hudson at Treasury, and to let justice be done, though the heavens may fall.
Fat chance of any of that, so gold and silver look like enduring safe havens.
Timmy addresses Jamie Dimon and his troops, Kelly on the Asian trading desk gets her buying opporunity, and Blythe has her shorts in a twist, and a headache.
