skip to main |
skip to sidebar
The metals were hit yesterday and today after a weak jobs report and an uptick in unemployment made a bit of a canard out of the Fed minutes suggesting that they will be able to cease their monetary easing and bond buying anytime soon.
They may shift to some other mechanism, but they will continue to expand the money supply.
The smackdown in silver was particularly heavy handed and obvious, but gold was not far behind.
A trader suggested that the bullion banks are trying to shake out the big open interest on the Comex with these intraday raids, hitting stops and discouraging further buying and, God forbid, delivery.
The unemployment rate upticked to 7.8%, and the jobs added number was mediocre as expected, with 155,000 jobs being added.
Stocks rallied on beginning of the year enthusiasm.
<
The 'mean' is the average of all wages.
The 'median' is the wage in the middle, that is, what is earned by those people in the numerical middle of the population.
And the ratio of the median to the mean continues to fall, as the rich get richer, and a large part of the country is left behind, as a matter of policy.
This is the plight of 'the 47%.'
Source: SSA
The metals were hit late day because some of the Fed member are fantasizing about an economic recovery this year, and of course, we get the Non-Farm Payrolls number tomorrow.
