Gold was down (at press time) $11.80 (-0.7%) for the week to $1,695.80, and silver was up .43 (+1.4%) to $31.93. Gold’s decline was attributed to, well, the same things as last week and all the weeks since it topped $1,900.
Rather than discuss the strange noises emanating from the Continental Suicide Pact (AKA the European Union) and their implications for precious metals, this week we will again examine America. Actually, one American in particular and the implications of his extraordinary career for the future of trading.
There’s an old joke about the United States Marine Corps—“”There are no ex-Marines, except Lee Harvey Oswald.” And now we must add to that short list Jon Corzine, erstwhile CEO of brokerage house Global MF, which declared bankruptcy October 31.