The Libor Scandal affected $500 Trillion in derivatives and it created over $2.5 Trillion in fraudulent profits. Lawyers understand the size of potential damages and will aggressively pursue the bank involved.
Banks continue to be extremely fragile, probably insolvent.
Europeans are no longer blindly supporting the current politicians.
China and Russia continue to buy gold at the manipulated lower prices. They are thanking the Fed Reserve under their breath.
Quantitative Easing continues to support the ailing US economy and there is no end in sight. Furloughed Federal workers will spend less money since they are receiving about 80% of their normal paycheck. That decline in demand ought to show up soon in the economic numbers… ought is the key word.
Many of the experts I pay close attention to project the following:
Price Targets for gold: $2,000 on or before 12/31/13. Long-term: $11,000
Price Targets for silver: $50 on or before 12/31/13. Long-term: $200
This time reminds me of 1998 when I would have lunch with a friend of mine and we would marvel that the the .com bubble had not burst. How much longer could it go? We now have a Bond bubble and a currency bubble simultaneously. Only Our Heavenly Father knows when this reconciliation of the books will occur.