* I wish everybody a happy July 4th weekend; U.S. markets will be closed
* It's unfortunate that we can't really celebrate all the traditions that we're supposed to be honoring were lost generations ago
* The values our founding fathers risked their lives for have all been lost
* I wanted to comment on what is going on in the markets particularly today
* Today was the capper on the week
* You had silver prices up about a dollar an ounce
* Gold closed up about $19, so gold closed above $1340
* Maybe by the time the market opens on Tuesday silver will be over $20/ounce
* Who knows, maybe gold will be over $1400?
* This is a powerful rally - gold finished at three year highs today
* GDX was up about 5% on the day
* The stock market didn't do that much today, but the real story, other than the gold market is in the bond market
* U.S. Treasury yield plunging again - these are the lowest yields ever
* Certainly below the crash lows
* The yield on the 10-year treasury is below 1.5%
* The yield on the 10-year treasury is 2.24%
* So yields are plunging, bond prices are surging
* What is going on?
* The answer is money printing; Quantitative Easing
* The most recent catalyst being the Brexit vote, which scared the hell out of everybody because of the collapse, particularly of the European banks
* Now the central bankers are rushing to the rescue all around the world


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