Are we sensing a trend here?
A few weeks ago, the White House announced that data for October Non-farm Payrolls and CPI (implying PPI as well) was lost due to the government shutdown from October 1st through November 12.
On Monday, the Bureau of Economic Analysis (BEA) announced that they would not be releasing the advance estimate for third quarter GDP, and gave no timeline for when the report would be released.
For reference, GDP reports are usually released on the last Thursday of the three months following the end of a quarter. In this case, the initial estimate would have normally been released on October 30. Because of the shutdown, that released was skipped. Effectively, what was cancelled this week was the second estimate, which, because Thanksgiving was Thursday, would probably have been released today, Friday, November 28.
Today, the Wall Street Journal reports that the BEA will release the initial GDP estimate on December 23, just in time for Christmas. A delay of the third quarter GDP estimates is somewhat odd, given that the quarter ended on September 30, the day before the government shutdown. It all seems rather fishy, from the shutdown itself to the "lost" data, to delays in reporting important government findings.
These kinds of things happen in other countries, arguably in third world dictatorships, banana republics or communist regimes. The defunct USSR and, more recently, China, are famous for fabricating data. The current climate reeks of Orwellian doublespeak statements, like "chocolate rations have been increased from 10 grams to six."
Today's oddity comes from the CME Group, where options, gold, silver, and stock futures - among other derivative products - are traded regularly. Around 9:44 pm Thursday night, the platform went dark. Strangely enough, right at that time, silver was peaking above $54 an ounce and gold had jest beforehand been rising rapidly toward $4,200. Prices of the two prominent precious metals are the most severely suppressed of any commodity or product, the main conduit for manipulation being the CME, COMEX and GLOBEX platforms, though nobody would really imagine that the U.S. government would go to such extremes to keep the prices of real money under wraps and their precious fiat US$ afloat, would they?
Moments ago, as of this writing, the CME announced that their systems would return to normal operations at 8:30 am ET. as if by magic, NASDAQ futures popped up 83 points, Dow futures rose 80 points, and S&P futures gained 13.
So, never mind, we've (government moles) got this.
Something that came to the attention of Money Dialy was a report in the Jerusalem Post that the Royal Bank of India (RBI) had proposed new rules allowing silver to be employed as collateral for loans, alongside gold, which has for decades been a normal practice.
The intriguing message in the story was that India's regulators propose the new policy, which goes into effect in April 2026, sets collateral eligibility at 10 kilograms of silver versus 1 kilogram of gold, a de facto implied 10:1 silver:gold ratio.
Initially, our desk brushed the story off as fake news, as it was not reported anywhere else, though upon doing some sleuthing, it appears that the story is true. How deeply the collateral ratio in India will affect gold and silver prices remains obscure and yet to be seen. Currently, the gold:silver ratio has been upwards of 80:1, in the past year as high as 100:1. If the suggestion that silver should be valued at 1/10th the price of gold, it would be enormous news and shake markets globally.
Since historically, the gold:silver ratio has been anywhere from 8:1 to 20:1 it would mark a return to sanity in monetary matters, at least regarding real money: gold and silver.
One more thing: The atomic clock at Money Daily HQ, which receives its signal broadcast from station WWVB by the National Institute of Standards and Technology (NIST) in Fort Collins, Colorado, sometime last night or early this morning (we were sleeping off the Thanksgiving dinner) displaying the time eight hours ahead of the actual time. Odd.
Equity exchanges close at 1:00 pm today, so get your bets in early.
Happy Black Friday! Enjoy the show!
At the Close, Wednesday, November 26, 2025:
Dow: 47,427.12, +314.67 (+0.67%)
NASDAQ: 23,214.69 +189.10 (+0.82%)
S&P 500: 6,812.61, +46.73 (+0.69%)
NYSE Composite: 21,713.13, +161.39 (+0.75%)
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