US$ continues its climb because the bankers of Europe are continuing their protocol, “no matter what support fiat, and punish Gold”. US$ is trading at 79.805 after climbing as high as 80.135 with a current low of 79.735, Treasuries show support in Notes and Bonds, but the short term has all the pressure (could this be BRICS-Swift preparations?).
Energy Products really fell hard on Friday with some continuance carrying forward today with Crude Oil now trading at 98.290 down 59 cents with Diesel trading lower and reformulated gas higher. Gold was hit right out of the gate last night as we started to see the European Election results with France, England, with Germany about to go thru the same. All the electorate platforms are rejecting the forced austerity measures imposed upon their people. Gold has recovered and is now trading at $1,639.00 after reaching a low of $1,634.80, Silver is OK as well with the trade standing at $30.260 after hitting a low of $29.99 where buying overcame all selling, Copper and the base metals are recovering as well. Grains/Softs are mostly lower with the Meats closed, Paper Markets have recovered as well but are still in harm’s way because the liquidation is still in progress. June 28th is the day the G8 made a line in the sand using the SWIFT banking system as a weapon of war by claiming anyone doing business with Iran will be punished as well. It looks like this has backfired in such a way that most of the G8 is now alienated from the rest of the world. There are not too many demands for Armani Suits, Ferrari’s, and the various other non-essentials (except for foods which the USA makes the most of) these days since all the cash has been distributed to bond holders only. Indeed the barrel of this SWIFT weapon was jammed and the backfire has blinded the operator, for the date June 28th might become the day that the BRICS start up their own SWIFT system to transact business without any of the G8 currencies in tow. Rumors are swirling around that Gold will be part of their system and an agreement to limit print of any one currency to balance out responsibility to each nation involved ….. where it goes from there, who knows? ….. Stay Long (Gold) and Strong!!
JB Slear
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com
Don’t risk what you cannot afford to lose….