Stocks and Precious Metals Charts -

"Will I say there will never, ever be another financial crisis? No, probably that would be going too far. But I do think we’re much safer and I hope that it will not be in our lifetimes and I don’t believe it will."

Janet Yellen

Yellen issued what sounds on the surface like the kind of statement that Irving Fisher made famous in 1929.   Hi ho!

Today there was a quiet options expiration on the Comex for gold and silver.

The July contract is active for silver, but the gold action is already moved to August.

Stocks took a dive today and the VIX was up as you can see below.

The US Dollar took a real dive relatively speaking as well.  I have not looked at the key cross currency results to see what drove it, but the reaction in the precious metals priced in dollars was relatively subdued.

I am not going to say what I expect the price of gold and silver to do for the rest of the year.  But I do have a keen eye on the charts, and will let you know when the market tips its hand.

I came to the realization today that the US has largely given up its pretenses to a higher moral standing.    'Immoral' is the best way one could describe a healthcare reform bill that inflicts pain and suffering on the poor and vulnerable, almost gratuitously, in order to provide even more tax breaks for the wealthiest few who already have been taking the lion's share of growth in the national income.

Karma.  Ain't it a bitch.

Have a pleasant evening.