What is that number? The annual salary of Alex Rodriguez? The yearly earnings of Oprah?
The other day, I heard a politician say that the U.S. is currently borrowing $4B per day. I thought, "no way", but that's pretty close. $4B x 365 = $1.46T. Yikes!!
So I started to work it backwards and I got $46,296/second. That's how much the U.S. is borrowing (printing) every freaking second of every freaking day. Oh, but if you listen to CNBS or read Barron's, you'll hear that QE3 is very much in doubt. Whatever...
Both metals closed strong today. Combine that with the strength in crude and the grains and you've got something to build on. Add in a little DrC at 436 and you're cooking. Note that the HUI was strong, too, and, all of a sudden, you begin to feel like you've really got something to look forward to next week.
It looks almost certain that gold and silver will head back toward the levels that we're giving them so much trouble earlier this week. Gold will trade toward 1430 and silver toward 36. From there? Well you know that whatever power-that-be that was so intent on holding those lines this week will re-emerge. It will be a very interesting fight.
I'll be printing off some very interesting weekly charts tonight so look for a fun update tomorrow. Thanks again for a great week here in Turd's World. TF