by Dave Kranzler, Investment Research Dynamics:
Central banks in the West are emptying their vaults in an attempt to maintain the illusion that the national currencies they manage are immune to monetary debasement. The central banks are trying to perpetuate a system in which governments believe they can borrow and print money endlessly to fulfill the impossible promises of politicians. – James Turk on King World News (link)
After the metals staged their usual overnight rally while the physical gold hoarding Asian markets were open, this morning featured two HFT-algorithm flash crashes. One at 7:00 am. EST and one right at the Comex open (the latter occurs at least 85% of the time).
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