Gold Daily and Silver Weekly Charts - Non-Farm Payrolls Report Next Week - Zimbabwe Express

"The mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges which they have succeeded in obtaining in the different States, and which are employed altogether for their benefit; and unless you become more watchful in your States and check this spirit of monopoly and thirst for exclusive privileges you will in the end find that the most important powers of Government have been given or bartered away, and the control over your dearest interests has passed into the hands of these corporations."

Andrew Jackson, Farewell Address

The only funadmental in this market right now is fraud.

Gold gave up a little bit and silver gained some to close out the week.

The delivery reports for October are now coming in, and gold was off to a bang as Nova Scotia served up bullion markers for all those standing for delivery. Silver was relatively quiet.

Recovery Is Arriving On the Zimbabwe Express

Larry Summers thinks that it is time for more governments to start propping up their stock markets more overtly by the outright buying of stocks on a regular basis.  But he did somewhat ominously admit that

"we are fairly near the end of the rope. Perhaps there is scope to reduce short-term interest rates a little bit more and to make them a little bit more negative. But there is not much scope.”

He also went on to observe that: "In a world where cutting-edge technology companies are awash with excess cash, it can hardly be a surprise that there is substantial downwards pressure on the level of real interest rates. Low neutral rates will be around “for a long time to come,” requiring policy makers to think more dynamically.

I had a chill run up my spine when the thought of President Hillary bringing him back into government again.  Heavens to the downward-spiral-of-elitist-new-era-thinking.

No wonder economics is a disgraced profession.  Some of its biggest and brightest stars are so conflicted by selfish interests and blinded by ideology that they could not formulate sustainable policy for a glee club.

Non-Farm Payrolls next week as noted in the economic calendar below.

Have a pleasant weekend.

SP 500 and NDX Futures Daily Charts - Jawboning Prosperity, For Some

Stocks rallied on a report that had been given from some source to the French wire service Agence France-Presse that Deutsche Bank was expecting to reach a settlement with the US Department of Justice of about $5.4 billion, considerably less than the $14 billion that the DoJ had been asking.

Favourable rumours notwithstanding, the US equity markets are surprisingly weak.

Their underpinnings bear little substance of firm and committed investment, which is a roundabout way of saying that they are in a bit of a bubble fueled by very short term speculation and price manipulation.

Therefore, one might expect that just about any significant exogenous event is going to bring this market to its knees. A failure at Deutsche Bank would certainly do the trick. But there are a number of other things that would also do serious harm to a fragile market structure based on hot money and fraud.

Have a pleasant weekend.

Gold Daily and Silver Weekly Charts - Shocking, Positively Shocking

There was a whiff of more serious concern in the markets this afternoon.

Word leaked out in a news story that some of the hedge funds doing derivatives clearing with Deutsche Bank were pulling out the cash from their accounts.

The implications of this were obvious immediately to most. And risk assets sold off.

Gold and silver are still coiling under some market pressure from the usual suspects, loco London, New York, and Washington DC.

When the time comes for the metals to break free it may happen overnight from a shock in the financial markets.

My son missed the train crash in Hoboken this morning by ten minutes. Never so glad to have him answer the phone promptly.

God's tender mercies.

Have a pleasant evening.