by Andy Hoffman, MilesFranklin.com:
When the annals are written, 2013 will go down as the most anomalous in financial market history. Or, more accurately, when the manipulation of everything – from stocks to bonds, currencies and commodities – permanently dislocated price discovery from reality. My fingers are sore from describing this year’s bazaar “trading” – in which stocks and sovereign bonds (aside from U.S. Treasuries) have risen amidst global recession, and Precious Metals have fallen amidst record worldwide demand and Central bank money printing.
Fortunately, fundamentals always win out – particularly in physical markets, with finite supply. And thus, when all is said and done, the mirage created by the most maniacal financial masquerade of all time will be replaced with the reality of a hopeless, broken system.
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