I hope you have had the time to watch the David Cay Johnston videos I put up overnight. They will help to explain much of what is going on in the financial markets and The Recovery™.
Gold, and to a lesser extent silver, took a late day price hit after the FOMC meeting in dull trade. I was wondering if the wiseguys were going to let an FOMC Day go by without at least a cheap shot.
I include the Comex warehouse activity for silver below. I do not believe it is particularly meaningful however. The real action in precious metals is in the East.
I am curious to see what is going to happen to stocks here. The Alibaba IPO should hold them up since it is such a monstrously large snack for Goldman and the Merry Pranksters on Wall Street.
I am now looking for an indication of some traction in the precious metals more than anything else. I think it will have to come from an exogenous source. The US markets are thoroughly 'in hand.' Unfortunately they are the wrong hands.
Have a pleasant evening.
