from King World News
China’s Shanghai Exchange is the reason the price of silver soared and gold surged today.
By Bill Fleckenstein President Of Fleckenstein Capital
April 19 (King World News) – Overnight Asia recouped what it lost Sunday night and Europe was about 1% higher, with the SPOOs gaining about 0.3%. That despite IBM declining on a horrible quarter, which was described as a “beat” for the benefit of the fools who only read headlines, when approximately $1 of its earnings (roughly half) was due to a tax rate change. Quarterly revenues are now back to where they were about 14 years ago. Gee, really great quarter, guys! The market wasn’t fooled, however, and the share price dropped 5% after hours and was 2% weaker still today…