Silver Passes $30.50

Now that risk assets once again are trading purely on monetary stimulus vapors, and broad dollar weakness, we expect that precious metals will continue generating better beta than the S&P. Sure enough, this morning silver is up nearly 2%, with gold spot also just passing an all time high of 1,428.85. At this point every uptick in stocks is offset by a grater loss in purchasing power, and after various commodities opened limit up earlier, it is only a matter of time before the hot topic of mid-November: margin collapse, is back on the radar screen. But, as always, at least the wealthiest 1% of America which has the bulk of its net worth in the stock market, and recently, in gold, is making off like a bandit.