07 March 2016

Gold Daily and Silver Weekly Charts - Déjà Vu

I imagine that this very clumsy market manipulation will continue until market participants regain their confidence in the ever-blundering central bankers, crooked financiers, and time-serving politicians.

Or until these fellows completely run the economy off the rails.

Apparently the sophisticates at the ECB are expected to deepen their negative interest rates and war on cash and savings as a cure for the looming Depression in Europe when they meet later this week.

To paraphrase Charles Dickens, if their model supposes that, then their model is an ass.

‘That is no excuse,’ replied Mr. Brownlow. ‘You were present on the occasion of the destruction of these trinkets, and indeed are the more guilty of the two, in the eye of the law; for the law supposes that your wife acts under your direction.’

‘If the law supposes that,’ said Mr. Bumble, squeezing his hat emphatically in both hands, ‘the law is a ass."

Charles Dickens, Oliver Twist

Have a pleasant evening.