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Written by Peter Grandich   
Wednesday, 21 May 2014 04:00

• The U.S. stock market continues to trace out a broad topping formation. Underneath the big blue chips, the technical damage grows. While the “Don’t Worry, Be Happy” crowd has convince the sheepish investors the FED is their very best friend, one FED member had the guts to speak openly about one of the many 800lb Gorilla’s in the room.


• While gold trades in a narrow range, the case for those of us who have claimed serious manipulation grows. I have mentioned the sudden departure of most of those who were involved with the London Gold Fix was no coincidence. While the American financial media refuses to take manipulation claims seriously, European media are starting to get their teeth into it.


• “It’s quietest before the storm” fits well for the foreign currency market.

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• While annuities are used occasionally in our alternative to traditional financial planning process, I believe they are terribly over abused by the financial service industry thanks to big fat payouts those using them receive. This article is well written on the subject of annuities.


• I spoke yesterday about retirement planning. Here’s two articles worth reading on that subject.


• Abuse of government benefits is not just an American problem. This situation should make Britain’s blood boil.

 

My office shall be closed from Thursday May 22nd until Tuesday May 27th

 

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About Peter Grandich

Though he never finished high school, Peter Grandich entered Wall Street in the mid-1980s with no formal education or training and within three years was appointed Vice President of Investment Strategy for a leading New York Stock Exchange member firm. He would go on to hold positions as a Market Strategist, portfolio manager for four hedgefunds and a mutual fund that bore his name.

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