Gold managed to take back almost every cent
of this morning's runup for whatever reason
(see Dan Norcini's comments on my other blog or
JSMINESET.COM).
So far gold is holding between 822 and 815 which
it has hit twice on both sides of the trading range.
Nothing magic about those numbers that I can detect.
Dollar fell back to its low twice breaking below .8500.
I expect it to punch through that soon heading south
rapidly (again see Norcini's comments).
Euro put in quite a rally today, but eventually sold off.
That and the Dow both falling brought gold back down
along with Oil coming back to the 51s.
These markets are all trading with little sense or long
term patterns and are all reacting to one another.
This is approaching panic type trading, and will become so
when all this funny money doesn't have the intended
consequences and entities keep going BK.
The U.S. Guv'mint is just eating debt like a vacuum and
will soon collapse under the weight of its LACK OF CREDIBILITY.
O'bomb'a won't fix anything. In fact, he will make it worse,
or turn us into a nation of guv'mint worker bees picking up
trash by the freeways which will be empty except for military
convoys transporting guv'mint cheese to the relocation camps.
I'm off to town for supplies and pulling more money out of the bank.
This weekend would be a perfect time for the criminals to
do something dastardly while the population is laying on the couch
sleeping, burbing turkey fumes, or watching another football game,
the same game you have watched five million times before.
Then it will be interesting to see how many people DON'T go
shopping on Black Friday.
