Three Items For The Overnight
Thanks to all who submitted guesses for the latest hat contest. The contest is now closed. Recognizing you need a new thread for the overnight, here are three things to discuss.
First, Trader Dan doesn't have the time to post every day but, when he does, it's almost always worth your time to read. His post from Friday was fantastic. Below is a chart of his which I lifted from the post. It shows that we currently have a "record" amount of naked spec shorts in silver. Surely, this is a bullish, contrarian indicator and it follows along with the theory I've posited here that The Silver Cartel is methodically shifting the burden of being short from themselves to the specs (sheep). http://www.traderdannorcini.blogspot.com/2012/06/hedge-funds-continue-to-pummel-silver.html
Next, our pal Jeff Nielson has penned a great new article. This time he focuses on the LIEbor scandal. Please take the time to read it. http://www.bullionbullscanada.com/intl-commentary/25570-bankers-fraud-now-too-big-to-fail
Lastly, please take 30 minutes to listen to this program from BBC radio. It is a fair and balanced discussion of the benefits and challenges of a return to "the gold standard". It features two guys with whom many Turdites have become familiar, John Butler and Detlev Schlichter. Well worth your time even though it presupposes that "The West" will have some choice as to whether or not the world returns to sound money. Also, the arrogant AGA at 23:00 almost makes me homicidal. (If an admin can figure out a way to embed this audio, please do.)
Okey-dokey, that's all for today. See you on Tuesday.