The HUI today broke above its short January down trend line. This could be the right hand shoulder. That probably had something to do with the gold price and the silver price gapping up at the open in New York and continuing up for the rest of the day. Whether these are break away gaps that do not get filled remains to be seen.
*****
Amazing, an establishment publication refers to Ayn Rand's Atlas Shrugged novel:
The Wall Street Journal
"The current economic strategy is right out of "Atlas Shrugged": The more incompetent you are in business, the more handouts the politicians will bestow on you. That's the justification for the $2 trillion of subsidies doled out already to keep afloat distressed insurance companies, banks, Wall Street investment houses, and auto companies -- while standing next in line for their share of the booty are real-estate developers, the steel industry, chemical companies, airlines, ethanol producers, construction firms and even catfish farmers. With each successive bailout to "calm the markets," another trillion of national wealth is subsequently lost. Yet, as "Atlas" grimly foretold, we now treat the incompetent who wreck their companies as victims, while those resourceful business owners who manage to make a profit are portrayed as recipients of illegitimate "windfalls." "
From fiction to fact in about 50 years as the US's living standard heads to third world levels.
Gold and silver will provide much protection from the growing legalized looting and theft of an increasing "money" supply, which is just mostly digital bits on computer hard drives now a days. Hardly any of the stuff is paper any more. What does it take to create bits on a hard drive versus getting gold and silver out of the ground and refining it. Heck, what central banks do is far easier than counterfeiting.***
"The problem with socialism is that you eventually run out of other people’s money." – Margaret Thatcher
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