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