- Gold & silver capped by the cartel at $1300 & $22- is a big move on the horizon?
- The Dollar’s death by a thousand cuts suffers numerous flesh wounds as Russia prepares major oil deal with China
- The Doc updates listeners with the state of the physical gold & silver market in the US via the eyes of SDBullion- Silver Eagles live in stock with all the Authorized Mint purchasers for the first time in 2014!
- Blythe Masters reportedly under investigation by Federal Prosecutors in Manhattan- will Blythe Masters be the first top level banker convicted in the aftermath of the financial crisis?
The Doc & Eric Dubin discuss all this and more in the latest SD Weekly Metals & Markets:
The Doc and I took a much needed vacation last week. We’re glad to be back!
Do you get the sense that we’re now in a holding pattern, with gold and silver upside firmly capped? Silver is certainly taking the brunt of cartel suppression. Silver is easier to kick around, and many analysts – myself included – believe it is targeted with the aim of influencing gold indirectly.
Meanwhile, one can make a strong argument that tapering is starting to impact the overall stock market. Check out the action with large capitalization technology shares represented by the NASDAQ 100 index:
Large capitalization technology stocks were among the leaders of the 2013 through early 2014 market advance. Their recent decline probably is indicative of further general market potholes directly ahead. The old stock market adage of “Sell In May, stay away til Labor Day” makes a great deal of sense given the pricing in of ongoing tapering, high current stock market valuations, record levels of margin debt and cracks beginning to be more widely understood when it comes to the intermediate-term economic outlook.
Bill White, the former chief economist of the Bank for International Settlements (BIS) touched on these dynamics and more in an interview with Finanz un Wirtschaft. Click here – it’s well worth your time. Mr. White has a pretty good track record for underscoring financial system problems before the mainstream deals with object reality. Most central bankers are still punch drunk — even with Yellen tapering. But the BIS as the central bank for the central banks has periodically sounded the alarm when systemic risk factors become to glaringly obvious to ignore. We saw this with BIS statements before the 2008 crisis.
Dollar reserve status remains a critical issue going forward. On today’s show we discussed Russian and Chinese actions as the latest examples of the migration away from the US dollar via bilateral agreements. For additional perspective, don’t miss Greg Hunter’s latest interview with Dr. Paul Craig Roberts (click here) and my interview with Dr. Dave Janda last Sunday (click here).
Have a great weekend — Eric Dubin.