by Andy Hoffman, MilesFranklin.com:
There’s nothing normal about today’s financial world; in my view, the most corrupt of ALL TIME. Clearly, technology and deregulation are the main causes – as the “financial engineering” and “TBTF” bank culture following repeal of the Glass-Steagall Act in 1999 has enabled bankers to commandeer financial markets. Fortunately, they still can’t manufacture PHYSICAL gold and silver; but they sure as heck can produce unlimited shares of miners, ETFs, and other derivative products – as well as unlimited funds to purchase stocks, bonds, and other “favorable” asset classes.
This is why gold suddenly ran into a 600,000 ounce sell order at the COMEX open – just after MASSIVELY PM-bullish jobless claims data emerged; why a justifiably tanking Treasury market suddenly saw “blistering demand” for its most risky asset; or why, at EXACTLY 3:00 PM EST, stocks suddenly exploded higher, while gold and silver – sitting just below their currently “lines in the sand” at $1,300/oz. and $22/oz., respectively – suddenly plunged…
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