It must have been painfully awkward for the Commodity Futures Trading Commission (CFTC).

Last year, Deutsche Bank settled a civil suit involving blatant market rigging and turned over reams of information, including chat logs and voice recordings. The trove contained plenty of damning evidence which had gone overlooked by the CFTC.

CFTC investigators supposedly spent 5 years searching for illegal market manipulation, but somehow, managed to find nothing.

The cheating became hard to ignore after Deutsche Bank turned over voice recordings and 350,000 pages of documents which revealed bank trading desks being run like the back office of a crooked casino.

Here is one of the chat log gems between David Liew (Trader B) and an accomplice at UBS, where they coordinate trades and joke about it with a play on the timeless Ghostbusters song:

UBS [Trader A]: and if u have stops...

UBS [Trader A] ... Read more »

Richard Nixon was president the last time commodities were this cheap relative to stocks. This sort of extreme relative low in the Goldman Sachs Commodities Index, which includes precious metals, has been a reliable indicator of bottoms in the past. After years of lagging stocks, the time may be coming for hard assets to shine.

We think a major correction in stock prices is among the more likely catalysts for higher gold and silver prices. However, given the increasing certainty that the Federal Reserve and other central banks are actively managing asset prices in a variety of markets, it is even tougher than usual to guess about timing.

It is easy to make a fundamental case ... Read more »

Mike Gleason: It is my privilege now to welcome in our good friend David Morgan of The Morgan Report. David, it's always a real pleasure to have you on with us and I'm especially excited to talk with you about some of the topics we've got on tap today. How are you?

David Morgan: I'm doing well Mike, thank you very much.

Mike Gleason: Well, as we begin here David, I want to talk to you about the danger of complacency because I think it's a very appropriate topic for the times we're in right now. To you and me and to many others in our space with a similar world view, we see a whole slew of reasons to own precious metals. We have threats of war in many places throughout the globe. We have a president here in the U.S. who the establishment hates and is hoping to oust if they get the chance. We have nation cen ... Read more »

Mike Gleason: It is my privilege now to welcome in our good friend David Morgan of The Morgan Report. David, it's always a real pleasure to have you on with us and I'm especially excited to talk with you about some of the topics we've got on tap today. How are you?

David Morgan: I'm doing well Mike, thank you very much.

Mike Gleason: Well, as we begin here David, I want to talk to you about the danger of complacency because I think it's a very appropriate topic for the times we're in right now. To you and me and to many others in our space with a similar world view, we see a whole slew of reasons to own precious metals. We have threats of war in many places throughout the globe. We have a president here in the U.S. who the establishment hates and is hoping to oust if they get the chance. We have nation cen ... Read more »

The market has no clue that it has severely undervalued the price of gold. While Central bank intervention has worked hard at capping the gold price, the “Great Gold Supply Disconnect” will most certainly remedy that situation. This gold supply disconnect took place after the gold price peaked in 2011.

That being said, the world is speeding recklessly towards an epic market catastrophe. No, this isn’t hype... I wish it was. But, unfortunately, the poor folks who continue to believe their STOCK, BOND & REAL ESTATE portfolios will provide them with a healthy retirement in the future, have no idea that their true values evaporated many years ago. However, the market just hasn’t BAKED THEM INTO THE CAKE YET... LOL.

Before we get to the Gold Supply Disconnect, let’s look at this wonderful chart that shows the carnage taking place in the commodity market. This is “Commodity Index” divided by the S&P 500 Ind ... Read more »