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Read the Tuesday Afternoon Wrap-Up for 8/7/2012 and the Wednesday Morning Commentary for 8/8/2012

I have long written of the exponential increase of government intervention in ALL paper markets, such as stocks

President’s Working Group on Financial Markets


Federal Reserve – Quantitative Easing


Exchange Stabilization Fund

…and Precious Metals

CFTC Commissioner Bart Chilton comments on the Silver Investigation

Moreover, I have highlighted the EXODUS of U.S. equity outflows for the past two years

Surge in US equity funds outflow

…in response to a decade-plus of losses…

U.S. Stock Outflows: a 12-Year Grudge

…let alone, the wholesale shunning of “PAPER PM Investments”, as evidenced by plunging COMEX “Open Interest”…

…and Open Interest/Price, of both gold..

…and silver

…let alone the abysmal performance of mining stocks, both LARGE…

…and SMALL…

This weekend, my good friend Mike Krieger did his debut interview with Lauren Lyster of Capital Account, in which he beautifully lays out the mindset of Wall Street investors, and why they are FLEEING the once venerable institutions charged with raising and distributing capital.  Both Mike and I are in this group of former Wall Street analysts, having left due to disgust regarding conflicts of interest, market manipulation, and the lack of personal satisfaction engendered by such a toxic environment…

Debut Interview on Capital Account with Lauren Lyster – Mike Krieger

Wall Street and London’s “City” are a shell of their former selves, no longer engaging in “traditional businesses” – underwriting and Mergers & Acquisitions – as those businesses died long ago, the victim of a 12-year (and growing) bear market and recession.  In my words from yesterday’s RANT, “Banks no longer lend, but speculate and steal.”

Thus, the only remaining Wall Street businesses are the government funded (via ZIRP) “carry trade” – itself, near death due to quantitative easing; HFT algorithms (can you say “NITE JUSTICE?”); and, generally speaking, trading on inside information care of government relationships since the ill-begotten, banker-driven repeal of the Glass-Steagall Act in 1999.

Glass-Steagall Act

It took me an entire decade to understand the commandeering of financial markets – let alone, the irreversible bear that can ONLY end with currency collapse; and with each passing day, my advice has grown shriller.  AVOID ALL SPECULATIONS, as the GREAT BEAR MARKET will destroy them all.  And what few scraps the BEAR ignores, the PAPER MANIPULATORS will gobble up.  The ENTIRE investing world is “LEAVING THE SANDBOX,” and the longer you stay, the greater the odds of going BANKRUPT!


Call Miles Franklin at 800-822-8080, and talk to one of our brokers.  Through industry-leading customer service and competitive pricing, we aim to EARN your business.