Gold Daily and Silver Weekly Charts - Ben Bernanke, With A Printing Press, On the Comex

Question: Who destroyed the public's confidence in the markets and the monetary system?

Answer:  Ben Bernanke, With a Printing Press, On the Financial and Commodity Exchanges.

And his motive was never really to save the real economy, but to reward the one percent and save the Banks.

SP 500 and NDX Futures Daily Charts - Cue Ethel Merman

Volumes on the NYSE just crossed over 550 million here today.

There is little selling pressure, but almost as little buying pressure except for the fluff generated by HFTs and cynical bubble-meisters.

I wonder if Ben and his Merry Pranksters are mad enough to stress the system with another asset bubble again for the benefit of the one percent.

I am starting to hear traders say: "This doesn't make sense, but don't fight the tape."

From here to whenever, all it will take is one event. As it goes higher, the magnitude of the event becomes less and less.

Ben did not know when it was time to just quit...

Gold Daily and Silver Weekly Charts - Markets In Monetary Driven Stasis

I believe that at some point the bullion dealers will abandon spot pricing which is based on a Net Present Valuation of the futures front month.

But what would they use instead, the London fix? That is just as dodgy if not more.

Let's see if Bart Chilton and the CFTC can do anything to restore confidence and transparency in the futures markets. I am not expecting much if anything from them.