Posted July 24, 2020
By Byron King
On Wednesday, we asked how you would bring order back to U.S. cities.
Declare martial law, says our first reader, arrest those who disregard the curfew, and shoot looters. We can not let anarchists win.
Our next contributor says: First, the president needs to deputize 5,000 to 10,000 U.S. Marshalls and target Seattle, Portland, Chicago and NYC.
ANY violence, destruction of property, arson or other violations should result in arrest and incarceration in work camps in Arizona or New Mexico while they wait for trial.
If found guilty, they should be sentenced to three to five years, and they should pay reparations through income from work camp activity.
Last today, a reader writes: The insanity will end when Americans stop electing insane leaders.
Do you think we Americans can vote our way out of this? Write in with your opinions.
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Friday, Jul. 24, 2020
Gold Approaches Record-High
Golds catching a bid this morning; its surged past the $1,900 level not seen in almost nine years. Golds record high? The yellow metal hit $1,921.17 per ounce in Sept. 2011.
Golds price is almost certainly getting a lift from tensions ratcheting up between China and the U.S. as China closes a U.S. consulate in Chengdu -- a retaliatory measure for the mysterious closure of a Chinese consulate in Houston.
And UBS Group AG increased near-term guidance for gold bullion to $2,000 by the end of September. (Maybe sooner?)
Bloomberg says: While spot gold prices are about $20 away from the all-time high, some futures contracts on the Comex are already trading even higher.
December, which overtook August as the contract with the highest open interest according to data released when Fridays Asian trading session was already underway, touched $1,927.10 an ounce Thursday.
And famed founder of Mobius Capital Partners, Mark Mobius, says: When interest rates are zero or near zero, then gold is an attractive medium to have because you dont have to worry about not getting interest on your gold and you see the gold price will rise as uncertainty in the markets are rising.
I would be buying now and continue to buy.
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Market Rundown for Friday, Jul. 24, 2020
S&P 500 futures down 30 points to 3,205.
Oils stalled at $41.20 for a barrel of West Texas crude.
Golds rallying to near-historic highs -- up $12.10 per ounce to $1,902.10.
Bitcoin is down $81.53 to $9,531.96.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
You all have a great weekend. Well be back Monday.
For the Rundown,