The price action in gold and silver markets yesterday were starting to get exciting.
The much maligned Gartman Letter had this to say:
‘…we get the sense that something really quite ominous is upon us and that some news… and clearly not good news… is waiting out there on the market’s periphery that shall tend, on balance, to weigh heavily upon stock prices, shall weigh heavily upon government intervention efforts; shall weigh heavily upon the global capital market’s collective psychology… we have the sense that we are at an historic turning point for the gold market, and that turning point was made mid-day yesterday when the dollar began to strengthen, as commodity prices began to weaken, and yet gold held steady as a rock.‘
Ominous indeed.
At the same time we have China telling us that they may let their institutions stick our derivatives in some uncomfortable places.
…AND…
China is looking into a ban on rare metal exports. Will that include silver at some point?
But we are the United States of America! All will be right…eventually, right?
Maybe not.
Wegelin bank, the oldest bank in Switzerland, released an 8 page report about 10 days ago titled “Farewell America”. The closing paragraph reads as such:
“The USA will remain the unquestioned military power and also an enormous repository of debt and other problems. Because they are painful, and there is always an inclination to shift the blame for them onto third parties, redimensioning processes always harbour the potential for aggression. Switzerland is currently experiencing just this. But it won’t end there. Potential aggression and economic progress are mutually exclusive. Which is why we are well advised to take a general farewell of America. This will be painful, for the USA was once the most vital market economy in the world. But for now, it’s time to say goodbye.”
If you want to read the full article click here. (I apologize it’s one of those da#! read it on the screen, scroll it like a pdf until it locks up thingy’s. If you want it large enough to actually read it, you have to scroll left & right AND up & down! HINT: there is a full screen button at the top right.)
Please do read that entire article, I think for most people – if they understand it – it will clearly be an eye opener. Certainly does NOT make one proud to be an American.
We live in complicated times. If you have capital, i.e., investments, it is at risk like never before in our lifetimes.
Staying informed is crucial. One of my sources is this excellent investment newsletter.
