Gold Daily and Silver Weekly Charts - Coiling for an Imminent Move

"Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper, as we were formerly by the old Continental paper.

It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if any they have, in manufactures, commerce, and other useful pursuits, make it an instrument to burden all the interchanges of property with their swindling profits, profits which are the price of no useful industry of theirs."

Thomas Jefferson

I think this coiling is almost done, and that we will see a move in the markets within the next two weeks, including stocks and metals.

We get the first look at Q2 GDP on next Friday. Economists consensus is 1.2%.

London Trader has an interesting interview at KWN.

After LIBOR Where Will the Next Scandal Come From? - The Independent

SP 500 and NDX Futures Daily Charts - Interesting Divergences

The stock market is ping-ponging right now, and VIX diverged from the sell off today.

The economic data is very disappointing, and event risk in Europe remains elevated.

Let's see how long this coiling can go on before the markets start to move.

Median Wealth And Those Wealthy Canadians

This chart on Median Wealth is making the rounds, from an article in the Washington Post based on a recent report on global wealth from Credit Suisse.

Please note that this is median wealth, not total and not per capita.

Americans' first reactions seem to be, 1. Australia is in a housing bubble and they'll get theirs, and 2. we're less well off than Canada?!   No one likes to see their little brother doing better than they are.

I think Australia is in the China bubble overall, and there may be some decline in the cards there.

But since this is median wealth, a more useful comparison would be to look at the difference between median and average for each country, to get a better idea of how each nation's public policy decisions have been affecting total wealth distribution, and additionally compare that to growth vector.

Perhaps if I get amibitious I will do it. Here is the original Credit Suisse report.

Here is the original article that sourced this chart from the Washington Post. Are Canadians Richer Than Americans?


The only change I made to this chart from the Washington Post was to redo the names in a larger font, for those who are not adept at reading the original micro-print.

Charles Ferguson Interviewed By Lauren Lyster

A popular author and award-winning documentarian like Charles Ferguson would normally be a featured guest on mainstream American news and discussion programs with his new book release Predator Nation.

But he is not. And that speaks volumes.

It is all a part of the credibility trap. No one wants to say or know anything about the powerfully connected criminals like Mackie Messer.