“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people. Source – The Declaration of Independence
Tough to say which is going down faster:
ReplyDeleteThe USDX, or....
The GDX/GLD and SIL/SLV
Once again, everyone is deathly afraid of a huge dollar rally after the FOMC, so they are selling or shorting resource stocks in droves.
Hey Dan, they are flash crashing the OIH, XLE, GDX, etc. today in an attempt to U-Turn the USDX and the Forex Algo programs before "The King's Speech"....
ReplyDeleteLOL......