Business

Until last quarter, the world's biggest hedge fund had, curiously, never held a position (according to our records) in any of the most liquid gold ETFs, whether the SPDR Gold Trust, the GLD, or the iShares Gold Trust, the IAU. That changed in the second quarter of 2017, when Bridgewater made its first tentative purchases in the gold ETF space, buying up 577,264 GLD shares, for $68.1 million, as well as 3.1 million IAU shares worth $36.8 million.

Authored by Charles Hugh Smith via OfTwoMinds blog,

The point is to end the current system in which billionaires get all the privileges and financial benefits of owning assets in the U.S. but don't pay taxes that are proportional to the benefits they extract.

Authored by Michael Snyder via The Economic Collapse blog,

The only other times in our history when stock prices have been this high relative to earnings, a horrifying stock market crash has always followed. 

Blain's Morning Porridge, Submitted by Bill Blain of Mint Partners

Why we should be very nervous about corporate bonds

    “Before the fiddlers have fled, before they ask us to pay for the bill and while we still have the chance.…”

It appears the opening of the US equity market is an implicitly bullish event now as USDJPY was kneejerked higher, igniting momentum algos and sending The Dow green... because that's all that matters!

USDJPY...

Nasdaq, Dow, and S&P all green...

Now that those stops have been run - what happens next?