We had a very unexpected surprise this afternoon; David Morgan called in from the road. He was driving to Montana and wanted to touch base over the latest metals ruminations. His take on the upcoming CFTC Silver Manipulation Report is that it will be a a whitewash and will result in no lasting change. In a recent trip to Hong Kong, David discussed the history of empires and how metals always flow to the rising empire and away from the declining empires. We also discussed a quote from ZeroHedge.com’s Tyler Durden, “While the insolvent “developed world” is furiously fighting over who gets to pay the bill for 30 years of unsustainable debt accumulation and how to pretend that the modern ‘crony capitalist for some and communist for others’ system isn’t one flap of a butterfly’s wings away from full on collapse mode, China is slowly taking over the world’s real assets”.
A sad commentary on the sad state of Western democracy and economic freedom and power.
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