"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretence of taking care of them."
–CIGA Eric.
Gold & Silver
CIGA Eric
Volume has been light into the gap(s) support. This is a bullish setup. What cannot go down with force will reverse and attempt to break resistance with force. This will be the third challenge (3 taps and out) of the 5/14 high.
Paper Gold ETF (GLD): 
The junior to major ratio illustrates the increasing leverage towards the rising price of gold.
Junior to Major Gold Shares Ratio: 
Silver continues to struggle under 5/19 resistance. The inflows into stocks and gold suggest that silver will play catch up once the 5/19 gap is cleared.
Paper Silver ETF (SLV): 
Bill Murphy Hits Bullseye – again!
CIGA Eric
GATA’s work and contributions to Main Street’s understanding of gold should not be marginalized.
The gold industry is truly daffy. Not a week goes by when a number in this industry fail to give credence to my decade long statement: Never have so many known so little about their own industry. It is truly astounding and NEVER changes as the years go by…
The mainstream gold world analysts have been neutral to bearish on the price of gold most of the way up … and still are. The mainstream financial market press never calls them on it and asks them how they could have got it so wrong. Barclays is calling for gold to drop to $800 by the end of this year. JP Morgan is looking for $950 gold in the years ahead. When they are proved wrong AGAIN, the financial market press will continue to give them all passes and then ask for their next predictions.
Source: grandich.com
Source: gata.com
Home building dives to five-month low
CIGA Eric
Housing starts fell to a five-month low in May but industrial output rose, evidence of an uneven recovery that has kept inflation at a minimum.
As the government’s tax incentives for homebuyers expired, new home building dropped 10 percent to a seasonally adjusted annual rate of 593,000 units, the lowest level since December, the Commerce Department said on Wednesday.
Building permits are cleaner than housing starts. The consolidation pattern and upside acceleration of the 2005 down trend have broken to the downside. A continuation/resumption of the government’s tax incentives is likely.
Building Permits And Change YOY: 
Source: finance.yahoo.com
Hi Jim,
Hope you’re well. Reading articles like this and hearing my mom and other friends speak of government entitlements like it’s a requirement makes me feel that the "American way of life" is probably the biggest ponzi scheme ever. People know their cities and states are broke, yet still want what they deserve/need. One could argue they planned retirement based on these promises, but everyone should eat less cake now since every one of us is suffering except banksters and politicians. This is not how any of America’s forefathers envisioned todays America.
All the best,
CIGA Omid
Retired cops to sue White Plains over health benefits
The lawyer for 128 retired White Plains police officers said Tuesday that he will seek a court injunction to prevent the city from requiring them to pay 15 percent of their health insurance costs.
"These officers were given a promise through a collective-bargaining agreement with the city, and now the city is going back on that promise," attorney Albert Pirro said as he announced that a notice of claim on behalf of the retirees was filed with White Plains on Monday
The notice of claim said the retired cops intend to sue the city for breach of promise and for changing their retirement benefits without due process.
