Reflections on Monday's Selloff

First, I send prayers and well wishes to those affected by the bombing in Boston yesterday. As someone who was a hundred yards away when the planes hit the towers, the city and its residents are in my thoughts and they have my deepest empathy and condolences. Godspeed to Boston on its recovery and may it quickly find the perpetrators of this crime against liberty.

I have been expecting a substantial pullback in the market for several weeks now. I did not expect the selloff to be triggered in part by a huge pullback across the commodity complex, especially in the precious metals. Gold has now had its largest two-day sell-off in over 30 years and silver has been hit hard as well. I have heard different explanations for the rupture in gold prices. I don't buy the ones that are centered on deflation concerns. I don't think the central banks of the world will ease up on QE efforts in the near future to allow that monetary event to happen....501 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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