And still almost no one is talking about silver, the dog that doesn't bark.
Next Thursday the 25th is the option expiration on the Comex. The expiration in stocks today was quiet with even the financial news dominated by the hunt for the Boston bomber.
The US will release its Advanced GDP figure on Friday the 26th.
There is quite a bit of useful intraday material worth looking and listening to that has been added, and so I suggest you scroll down to see it.
Of particular interest may be the reports of severe bullion shortages in Hong Kong and Dubai. This tends to make a mock of the theory that owners of bullion suddenly lost interest and sold it. But a financial economist is just as good at rationalizing as they are bad at predicting, so I don't expect to see many retractions or apologies just yet, if ever. You might have to keep score in your head.
And there is the three part series on gold from the CBC. I found part three to be intriguing.
And finally if you have not heard Jeff Sachs talk to the conference on banking at the Philadelphia Fed I suggest that you do, because he puts forward a fairly blunt analysis about the state of reform on Wall Street and in the banking sector.
It is very hard to admit failure, especially in one's leaders. And even moreso when one is a creature of their status quo. Things must be getting bad when even long time manservants start jumping ship.
Don't ask if 'it' is over yet. These fellows have a reputation for recklessly doubling down until they hit the wall. And thanks to the system as it is, they may have the public tied to the bumper.
So they may have another go at it next week. As Rick James said, 'Cocaine is a hell of a drug.'
Have a pleasant weekend.
