Stocks popped yesterday on Monday, and flopped back today on Tuesday.
There seems to be a pattern here.
Gold and silver were hit fairly hard, with silver taking it on the chin.
VIX rose a bit.
The Dollar drifted a little higher onto the 101 handle.
Dollar strength is euro weakness. And Europe's 'leaders' seem content to wear their gimp suits for Trump.
SpaceX is underwater from its IPO. The only surprise is that there were those who bought it believing in anything more than a quick, cynical flip.
I included a chart below showing the composition of the US gold reserves since 2012. I could have gone further back but the result would have been pretty much the same. Unchanging.
The steadiness of the Mint's 'working stock' is a result of their policy of continual replenishment.
Now we know, by Greenspan's own admission above and from other sources, that the US engages in swaps and loans of its gold quite frequently. But those changes are never reflected in the official inventory.
I wonder what a thorough audit of not only the bullion but the claims on it would tell us?
Have a pleasant evening.
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