"God, grant me the capital to accept the things I cannot change; the reserves to change the things I can; and the Fed Auction when all that blows up."
Calculated Risk
“The job of the Federal Reserve is 'to know when to remove the punch bowl at the party.' Under Alan Greenspan’s leadership its motto became let’s all get drunk and see what happens."
Said Elias Dawlabani
“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
Upton Sinclair
"He who does not bellow the truth when he knows the truth makes himself the accomplice of liars and forgers."
Charles Peguy
Stocks were marginally higher to almost unchanged ahead of the Fed's symposium on Thursday and Friday.
The dollar slipped under the 93 handle.
Gold was nominally unchanged while silver managed to move a bit higher, compounding its recent gain.
There will be a precious metals option expiration on the Comex on Thursday.
The situation remains volatile, and given over to short term speculative swings.
Have a pleasant evening.
