Dr. Anthony Fauci, point man for the CV-19 propaganda campaign, warned Americans about traveling over the Thanksgiving holiday, and fretted - along with anchors and reporters on mainstream media TV outlets - that people ignoring his warnings were likely to make the entire holiday season - Christmas and New Year's - worse in terms of his fake CV-19 "scamdemic."
Stocks had another solid week, with the Dow Industrials, S&P 500, NASDAQ, and NYSE Composite all making new all-time highs, even if interrupted by time off for the "little people," but oil prices were up more than 10 percent, raising gas at the pump, and anything that might offer relief from the tyranny of fiat money, specifically, gold, silver, Bitcoin and other cryptocurrencies, were beaten down like disobedient dogs.
On top of all that, the media continued to shield the public from the truth about the 2020 elections. They were rigged for Joe Biden, as any thinking person who bothers to do a little research can easily ascertain. Making worse in that regard is the corruption of judges at state and federal district levels, who have uniformly ruled in favor of the election cheating perpetrators, denying justice for the people of various states.
Basically, this was a week in which the elitists flexed their muscles a little and showed the world who's really in charge. It's sickening because the world is witnessing the end of democracy as a principal form of governance, as it's being replaced by totalitarian political control which answers only to itself.
Such is the state of the world as 2020 - one of the most regrettably ugly years in the pantheon of human history - lurches into its final month.
Breaking into the details for the week, the recent raises in treasury yields on the long end were tamped down a bit on Friday after rising earlier. At Friday's close of business, the 10-year note yielded 0.84%, the 30-year, 1.57, up one and four basis points, respectively. The short end remained at the zero-bound.
WTI crude oil rose from $42.42 to $45.52 over the course of the week. The rise in oil prices synchronizes nicely with colder weather and holiday travel. Since October 30, the price has risen from 35.79 to it's current level, a gain of 27.2%, which is simply stunning, considering the timing and exigent circumstances from CV-19 with closures, lockdowns and travel warnings.
Cryptocurrency was the most damaged asset class, with Bitcoin getting pounded on fears of government regulation or, more likely, distribution by "whales" cashing in on the recent rise which had the coin less than $10 short of its 2017 all-time high. From early Wednesday morning through early Friday, the price of Bitcoin in US$ fell from 19,500 to a low of 16,490, suffering a 15.4% drop.
Gold and silver, as mentioned above, were simply destroyed as futures traders took down the precious metals as though they were indeed ancient relics of a world forgotten. Gold's decline from $1,872.40 an ounce to its close on Friday at a disturbing $1,783.10 was a 4.8% slap. Showing the ultimate central bank disdain for the metal of gentlemen, silver fell from $24.36 to $22.68 on the week, a drop of 6.9%, leaving the gold:silver ratio at 78.62.
Prices for the metals are well below their summer highs. Gold has zoomed past $2,000 an ounce while silver was testing 8-year highs just short of $30 per ounce.
As is customary, here are the most recent prices for common gold and silver items sold on eBay (numismatics excluded, shipping - often free - included):
Item: Low / High / Average / Median
1 oz silver coin: 28.90 / 49.00 / 36.62 / 36.10
1 oz silver bar: 29.18 / 49.95 / 37.16 / 36.95
1 oz gold coin: 1,853.00 / 1,993.68 / 1,905.17 / 1,897.62
1 oz gold bar: 1,853.00 / 1,900.98 / 1,883.39 / 1,890.24
Happy Holidays!
At the Close, Friday, November 27, 2020:
Dow: 29,910.37, +37.90 (+0.13%)
NASDAQ: 12,205.85, +111.44 (+0.92%)
S&P 500: 3,638.35, +8.70 (+0.24%)
NYSE: 14,198.50, +6.91 (+0.05%)
For the Week:
Dow: +646.81 (+2.29%)
NASDAQ: +350.88 (+2.96%)
S&P 500: +80.81 (+2.27%)
NYSE: +371.60 (+2.59%)
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