Auguries — The Costanza Defence

December 8, 2011

By Kevin Michael Grace

Gold was down (at press time) $35.90 (-2.1%) for the week to $1,712.40, and silver was down
.66 (-2.1%) to $31.64. Gold’s declines was attributed by the Wall Street Journal to “investors seeking safety in the US dollar after the European Central Bank’s latest efforts to shore up the Eurozone financial system fell short of market hopes.”

To speak of “market hopes” would seem to be begging the question, as it has become obvious since 2008 that there are two markets. There is the market patronized by people that read this website, and then there is the market controlled by our betters—the bankers and their patrons, the politicians.

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