Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

The Financial Crisis (With Subtitles)

This comes from a group of students at the University of Missouri at Kansas City.

There is something very wrong about hearing R. Lee Ermey speaking French. Even if the words do not match the subtitles. And would he have ever used the word 'rhetorical' in real life?

I wonder if having Darth Vader explain Modern Monetary Theory, and then arrogantly choke off any serious discussion, was intentionally satirical?   

MMT is little more than a de facto debt default through monetary inflation backed by official coercion, pure and simple. It doesn't have to be, of course, but it always turns out that way. Hyperinflation and the Pernicious Myth of Modern Monetary Theory.

There is a third alternative between modern monetary inflation and destructive austerity. Reform the financial system and make the bond holders and investors take the downsides of the risks which they have incurred, in the manner of Iceland. But there is little knowledge of this, because the monied interests are controlling the discussion.

For a related topic see The Debt Prisoner's Dilemma.

Enjoy.

Gold Daily and Silver Weekly Charts

Non-Farm Payrolls report for November is coming out tomorrow. I would not be surprised to see a very light, sub 100k number compliments of Hurricane Sandy.

The FOMC has a two day meeting next week, and will announce its decision on Wednesday 12 December at 12:30 PM. I expect they will do something for the economy now that the elections are past.

Stopping the sterilization of Operation Twist seems likely at the least. That would increase the size of their balance sheet, and is gold positive. This could explain in part the chickenshit bear raids on the metals all week.

Have a pleasant evening.