It's Tuesday. I'll try to have a full post by later today. For now, here's a new thread to discuss the day's events.
Today should be relatively quiet compared to what the rest of the week may hold. The FOMC concludes tomorrow. The ECB might offer a rate cut. And then, of course, the BLSBS is Friday.
For now, physical demand stories continue to proliferate. I'm unable to post links so, if you have any to share, please include them in the comments.
The GLD continues to evaporate with another 2.5 metric tonnes leaving yesterday.
And here's a fun story for you. I have a friend who used to work for one of the big, national accounting firms. Once a quarter, the firm invites back "alumni" for firmwide conference calls with financial bigshots. Last week, the "bigshot" was Tim Geithner. As my friend described it, these events are off-the-record and frank discussions where questions are taken from the audience and honest answers are given. The topic came up of the Great Financial Collapse of 2008. The questioner asked the Lehman weekend and TARP and then followed up with: "Was any thought given to simply nationalizing the banks?"
And Little Timmah said, quoting directly here: "There wasn't enough time".
Note that he didn't say: "HaHaHa. Of course not. This is America. We don't do those kind of things."
He said: "There wasn't enough time".
So, what happens next time...after they've had these 5 years to think and plan? Ponder that one for a while.
I'll be back later today with an update. Have a great day.
TF
