RE:Bank of America had a non-comex position of 101 billion$Alarming and disheartening, but not necessarily surprising.
Just imagine if these buggers could only deal in the physical metal, and not in derivatives.
It would be a different ball game.
I noticed that the 2/10 spread is back up to one full percentage point.
I looked at charts to see if there might be a correlation between large spreads over the years and a significant increase in the price of gold. Came up empty on that one.
I guess the signal sent by a significant inverted yield would be the expectation for a recession. In the event that someone is totally dependent on their job for income and they end up unemployed, for them, it becomes a depression.