"The ritual of our existence is based on the strong getting stronger by devouring the weak. We must face up to this.No more than right that it should be this way. We must learn to accept it as a law of the natural world."Ken Kesey, One Flew Over the Cuckoo's Nest
There was intraday commentary about the Gold/Silver ratio which is at an extreme. You may read about it and what it may mean here.
Gold and silver hit weakness in the late London and early New York trading periods, which is pretty much de rigueur these days. And tomorrow is a Non-Farm Payrolls Day.
I am taking a closer look at the silver market. As you know I saw some interesting divergences between gold and silver with regard to ETF inventory level changes earlier this year. There are others and I am looking at them more closely.
It is getting so bad, one cannot even continue to make allowances for gross incompetence and hubris on the part of The Fed. Today Bill Dudley had his James Clapper moment, and roundly denied any lack of regulatory zeal at the New York Fed. It was insensitive, arrogant, and pretty disgusting.
“I don’t think anyone should question our motives and what we are trying to accomplish.”
The Fed is to regulation what David Cameron's Tories are to the English people.
That is, they may sometimes sound eloquent and publicly appear to be broad minded, informed, and responsible. But deep down you know that they are worse than useless, being self-absorbed, atavistic, conspicuously indifferent to the public, myth driveling toffs and gits. At least the Tories have the stuff to put up a proper nob like Osborne as their man. The Fed's overlords have to hide behind bubbe.
Andrew Jackson was right.
Have a pleasant evening.
