Turd Ferguson sums it up pretty well and says what I spoke to yesterday, gold held up well considering the rest of the global financial markets. Also, the price of gold is meaningless in fiat. A paper exchange leveraged up to 100:1 in paper to gold is determining price. This is a temporary situation that is quickly approaching the end. When it does, the current market demand for paper and physical gold will have to compress into that 1 on the right side of the colon. Good luck finding any gold for any price when this occurs. Yesterday and days like it are a gift for anyone who is concerned with accumulating ounces of gold.

MS

No Charts Tonight

by Turd Ferguson

After a long day, I knew I had to post something for you. If anything we have to start a new thread because the old one is now over 600 comments. I could take what has become the usual theme and expand on it but I’m not going to. No charts tonight. Just a brief, frank discussion about what is to come.

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