The week appears that it may end on an uptick but that hardly erases the sting of the way the week unfolded. However, upticks are always appreciated and now we'll see if we can build on this into next week.
It's always great fun to be on with Greg Hunter. In this segment recorded yesterday, we discuss global debt, the corner into which The Fed has painted itself and the rationale of doing "what the Russians and Chinese are doing".
With the New Cold War simmering on low at present, John and Steve returned last evening with a thorough discussion of the entire "Russiagate" affair in light of the recently-released report from the Inspector General of the US Justice Department.
Global equity markets are reelin and rockin today as Trump widens his prospective trade war and China threatens retaliation. Amazingly, however, this is considered "dollar bullish" and, thus, the Comex metals have been smashed lower again.
It's as if the commodities market is one day delayed versus the incredible rise in the US$ yesterday. Today's drop is also pretty handy for The Banks, allowing them to harvest all of the new shorts they've issued in the past week.
The next 48 hours will bring news out of The Fed, The ECB and The BoJ. Combine that with a few US economic datapoints like retail sales for May and you have a stew of impending volatility that's about to boil over.
Well, that's behind us. Not sure if anything substantial was accomplished but the images of Trump and Kim shaking hands was sure something I never thought I'd see in my lifetime. Now our attention turns to the economic news part of the week.
We're definitely making progress today though it may not necessarily feel like it after the hit that Comex gold took soon after the Comex open. Regardless, Comex silver is rallying beyond its 50-day and this is a hopeful sign.
Ukraine has been the epicenter of The New Cold War since it rapidly intensified in early 2014. Sadly, the situation on the ground is deteriorating once again. We can hope that good will through The World Cup will keep things in check but the reality is that hot war is once again emerging as a real and frightening possibility.
When I started about my prepping Odyssey of building a home for the future, I'd hoped that folks here in T–ville might learn from some of my blunders. I think we have a fine opportunity to learn such things today. Coincidentally, my mood over the past month is perfectly reflected by the weekend silver chart.