• Gold: 1,511.63 -2.61
  • Silver: 17.08 -0.04
  • Euro: 1.109 -0.000
  • USDX: 98.142 -0.094
  • Oil: 55.31 0.4

Something's Gotta Give

Even I have never seen such maniacal attempts to suppress PM prices, including the 113th visit from the 2:15 AM algorithms in the past 125 days; and then, amidst today's ONLY news being a record drop in small business sentiment and record increase in homebuilding cancellations, this…

The more PAPER PMs are held here, the more...

In perhaps the greatest farce since December 2011's "OPERATION PM ANNIHILATION II" - when PMs were attacked immediately after a surprise ECB rate cut, supported by the now infamous "fake gold sale headline"; and February 2012's "LEAP DAY VIOLATION," when PMs were attacked right after a higher than expected European LTRO II money printing announcement, they are attacked today just after yet another surprise ECB rate cut - this time, from 0.50% to an even more ridiculous 0.25%.

Record Low Inventory

Last week, I said the the post-FOMC Cartel attacks (on Wednesday afternoon and Thursday) were primarily motivated by preventing significant PHYSICAL takedown ahead of Thursday's "First Delivery Day" notifications on the COMEX.

That Destructive QE4 Program

Amidst a flurry of horrific economic data, the Fed did exactly what I - and in this case, the rest of the world - anticipated. It not only continued its destructive QE4 program, but gave not the slightest bit of guidance about when it might end (hint, because it NEVER will). Recall how PMs have been attacked all year on the (ridiculous) notion that tapering would occur imminently; when in fact, it appears further now than ever.

FOMC Decision Time

Ah, just hours from FOMC decision time - and one day from the COMEX's "first delivery" date for in the money October gold and silver contracts, and gold and silver are up sharply, to $1,353 and $23.00, respectively. Today's ADP disaster validates the unending string of miserable economic data; with yet another budget battle looming that threatens to shut the government down again. And oh yeah, no more "debt ceiling" to supposedly limit the exploding amount of money printing.

An introduction to SantaCruz Silver Mining

Big Al and Cory chat with SantaCruz Silver Mining President and CEO Arturo Préstamo Elizondo to get a run down of this very interesting company. The company’s goal is to become a mid tier silver producer and are on track to accomplish this in the next couple years.

NO TAPERING

This morning, Chicago Fed President Richard Evans gave a clearly scripted interview to CNBC - in which he did everything but flat out scream NO TAPERING next week, and likely until at least early 2014. Simultaneously, additional miserable housing numbers were published, with rates again pushing higher.

NEVER Been Cheaper

As I expected, the "penultimate deal with the devil" was passed by Congress last night - with the "ultimate" deal to be made in January when the last remaining "stall tactics" are exhausted. I wrote of this this morning; to be published later this afternoon.

Government Lunacy

It's only a matter of time before the "debt ceiling" is raised; and in the meantime, the entire world is outraged at the U.S. government's lunacy. It's credibility has fallen so low, the Chinese not only last week called for a new reserve currency, but a "de-Americanized world." And oh yeah, the new August import numbers show China is still on pace to at least double last year's numbers.

When the music stops...

The "debt ceiling" and "government shutdown" are but NOISE amidst the hopeless political, economic, and social deterioration of America. The whole world is watching the supposed "superpower" implode upon itself; a fate that will be sealed when the Fed eventually announces "QE5" in the coming months. Gold and silver have fought their way above recent Cartel "lines in the sand" at $1,320/oz and $22/oz, respectively, but the forces of evil are doing their best to cap PAPER prices with their usual naked shorting.