We have known about the markets being manipulated by the US Treasury’s Exchange Stabilization Fund for decades. Now, if anyone had any doubt, how about this set of circumstances? So we have complete chaos in that no one knows if the President is dead or alive. Did he withdraw from the race or is this a coup?

The Chinese have just cut interest rates and stock futures are still higher and gold, after a small rise has pulled back and silver is down again. You can’t make this stuff up. Anytime before these last few years, stock futures would be down hundreds of points and gold and silver would be soaring.

I expect stocks will fall hard by the end of today’s US trading and gold and silver should be higher on the Chinese interest rate cut alone. However, it is more likely that if stocks are down hard, we will see more metals downside, as I suggested late last week.