If you believe FED Chairwoman Yellen is going to say anything that can negatively impact the financial markets today, I would suspect you also believe Elvis Presley and Jimmy Hoffa are hiding out together.
As John Crudele notes here, we’re coming up on the 5th anniversary of Bernanke’s “Green Shoots” prediction. Several trillion dollars more debt later, the economy limps along at best. I truly believe Yellen has her own version of welcome to Fantasy Island.
It’s my belief the U.S. general equities portfolios be greatly reduced and if the “Don’t Worry, Be Happy” crowd on Wall Street manage to lead the sheep to new highs in the DJIA, I’m prepared to actually go short.
Despite yet another slam-bam thank you Crimex (Comex) take down, gold and silver continue to demonstrate continuing long-term strengthening and stronger resilience to attempted sell-offs.
I think this story about manipulation (even though the story “mysteriously” was removed soon after) is yet another “where there’s smoke there’s fire” developments in what inevitably shall be IMHO one of the biggest financial stories in decades – the revelation that us kooks, tin-hat wearers and the like were right to believe the good people at GATA basically had it right. Drinks are on me when that day comes!
As anticipated, both Teranga Gold and Sunridge Gold were overbought and are consolidating their recent run-ups.
Two newsletter writers who I have a “ton” of respect for their analytical skills of looking and mining and exploration companies, have made recent comments on SGC.