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June 28, 2011 / Hal (GT)

Who runs this place?

It’s an interesting thing to see the options expiration action. I’ve been watching it for years now with ExactPrice and to me it’s one of the clearest example of the big players manipulating the markets. I figured the week before that we would see weakness start around Wednesday of last week (Wednesday proved to be the launch to highs in pms at which point the profit taking went into action) and continue through the 27th and indeed we did. Now I expect some recovery starting today. Nothing earth shattering as we are in the summer season but just a bounce off the lows.

Now for some items to check out:

Turd Ferguson has some info related to the action we’ve been seeing in the last three days: The Dipman Cometh.

Ben Davies – Revolting PIIGS <- This is well worth a read. Here is a snippet:

Our fractional reserve and credit based monetary system has mutated from the banking sector to the sovereign sector and back again.  Socialisation of private losses, namely banking, by the public sector has been funded by the new issuance of vast amounts of sovereign debt.

Companies Buying Back Lots of Shares, Insiders Not So Much <- This came across Twitter to me from JesseFelder. This bit of news intrigues me and what it may mean long term.

The Royal Canadian Mint Sells 18.9 Million Ounces of Silver Maple Leafs in 2010 <- Ed Steer has some tasty tidbits in his Gold and Silver Daily today.

Gold and silver markets to enter high risk area with heightened volatility

The Dark Heart of Corporatism

Massive Movements of Gold and Silver into and out of Registered comex vaults/ another raid <- Worth a look.

QE 2 Is Almost Over, Is America Ready? <- Um… Nope. Love the graphic here.

Eric Janzsen: Gold is the only international currency that is not issued by a state. Thus it is the only reserve currency that states will be able to agree on as an international reserve currency in the future when trust in the Treasury dollar system is gone

The Silent Gold Rush is on <- Interesting link I found today by accident. Here’s a snippet:

We believe gold has been held down for many years in order to allow the US dollar based international financial system to survive. But the official grip on the gold price is beginning to weaken, perhaps this time for good.

That’s it for the day. I think. I’ve got to jet out to a meeting. Keep your eyes on the market. This week could go either way. And from my perspective, it’s a ball to watch it unfold.




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