“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception
"Pardon one offence, and you encourage the commission of many."
Publilius Syrus
“And the banks - hard to believe in a time when we're facing a banking crisis that many of the banks created - are still the most powerful lobby on Capitol Hill. And they frankly own the place.”
Dick Durbin, US Senator From Illinois
"And there is a kind of an 'ok guys, you're mad, how are you going to stop me' mentality at the top."
Robert Johnson, economist
'What is truth?' said jesting Pilate, and would not stay for the answer.Francis Bacon
Gold and silver spot prices went straight up in a 'flight to quality' on the news from Goldman Sachs that the Fed will have to engage in substantial quantative easing. This analysis received a boost by a much worse than expected existing home sales number, with 3.83 million units sold versus 4.72 million expected.
So the squid threw a rock in the pond ahead of Thursday's precious metals option expiration on the Comex, and caught many traders offsides in what was expected to be the usual 'skin the specs' easy money trade. As the metals market rig starts crumbling look for more players to break ranks and start taking chunks out of the bullion bank elephants for themselves.
Gold Chart Intraday
Silver Chart Intraday
