"We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it.
It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K."
Sir Eddie George, Governor Bank of England in conversation with Nicholas J. Morrell, chief executive of Lonmin Plc, 1999
"I know nothing that I may say can influence you. You have no souls to be influenced. You are spineless, flaccid things. You pompously call yourselves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans nor Democrats in this House. You are lick-spittles and panderers, the creatures of the plutocracy.”
Jack London, The Iron Heel
And they said to him, 'Where will this happen, Lord?' And He said to them, 'Where death is, there will be a gathering of vultures.'”
Luke 17:37
Stocks gave up some of the gains of the last three days.
Traders were reluctant to hold positions into the weekend.
The dollar continued to fall from its recent high. I have included a second Dollar chart that shows its performance over the last six months.
Gold and silver are looking like they want to break higher again.
We have been lost for a long time.
Perhaps we will be able to find our way back again.
Have a pleasant weekend.
