Stocks and Precious Metals Charts- Tail Risks - Inflation But Is It Transitory

"Price discovery is not a sexy function of markets, but it is critical to the efficient allocation of scarce capital and resources, and to the preservation of the long term wealth of investors and the economy as a whole. If price discovery is compromised by manipulation, then we will all be gradually impoverished and the economy will be imbalanced and unstable." - London Banker, Lies, Damn Lies, and Libor

“Anything that has more upside than downside from random events (or certain shocks) is antifragile; the reverse is fragile.” - Nassim Taleb, Antifragile

Stocks were off today rather uniformly, ahead of the stock option expiration.

The Dollar moved back higher.

Also moving a bit higher were gold and silver.

Even though the tail and event risks seem pronounced now, the higher probability is that we seething break, if it does, in August or September.

Have a pleasant evening.

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