Yep, but can anyone savvy answer why gold/silver are also getting hammered? (Which I’m fine with - might just buy some more).
Both are tied to QE and if that is starting to end, then the party ends there.
Both are continually making new lows so it’s hard to stand up for them but if the stock market continues to crack while the middle of the US Curve moves higher coupled with stagnant labor growth and less than 2% GDP....at some point the Fed will back off this tapering talk, Ben will step aside for Yellen who is the ultimate dove and gold/silver should rebound.
This ending QE comes at a serious price, one Obama is not going to be willing to pay. Ben is no Volker and Obama is the anti-Reagan so we all get to suck on this one.
Everything gets sold in a serious decline...