"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
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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Gold still range bound below $1550 but remains well supported
GDX/GLD ratio hit all time 2011 lows yesterday, now attempting to climb out of the hole. Ratio Traders will be emboldened to keep piling on this trade over and over. Until it stops working.
ReplyDeleteAnd what's up with Palladium? Strong as an ox.
It looks like the cartel is throwing everything at gold trying to cap it at $1550 to paint that chart into a head and shoulders top pattern. Your thoughts Dan?
ReplyDeletehttp://www.silverdoctors.com/