07 November 2016

Gold Daily and Silver Weekly Charts - Markets Cheer the Prospect of a Pyrrhic Victory

"Where men build on false grounds, the more they build, the greater is the ruin."

Thomas Hobbes, Leviathan

"Nothing on earth is like it, a creature without the self-awareness of fear. It sees only those that are haughty; it is the king of the children of pride."

Job 41:33-34

The markets were celebrating the prospects of a President Hillary Clinton, and a Republican House.

The biggest twist that might be possible is a close showing or win for Trump in the popular vote, but a decisive loss in the electoral college.

And it does seem likely that the new President will be a crippled ruler from the first, with weak popular support and virulent opposition in the House.

She will almost certainly be facing investigation after investigation. And if the outgoing President grants any blanket pardons I think the uproar might be substantial.

Her biggest supporters will be on Wall Street and Big Media, and they are 'Summer soldiers' at best.

I don't think I could have even imagined the blatantly slanted coverage we have seen throughout this entire election, including the candidacy of Bernie Sanders.   It was a disgrace.

We might be pleasantly surprised, but it is likely to be cosmetic, as in the case of Slick Willy who from a progressive standpoint was one of the worst Democratic Presidents ever.

 She might make some well advertised changes in healthcare and Big Pharma, but at the end of the day she is a servant to the financiers of Wall Street.

And let us not forget that as we have recently seen The Clinton Foundation is the heart of darkness, a festering wound on the integrity of the political process.  

The words 'Pyrrhic victory' come to mind.


But all of that *should* be good for gold and silver, without regard to the short term and the massive collateral damage that is likely from the bonfire of these inanities.

Let's see what happens tomorrow and not get too far ahead of ourselves. I am the first to admit that my crystal ball is cloudy.

The delivery report and warehouse statistics were a snooze so I did not bother.

Have a pleasant evening.