By Robert Schroeder
WASHINGTON (MarketWatch) -- The U.S. acts in markets only when necessary and is trying to save them from their own excesses and improve them, White House National Economic Council Director Larry Summers said Friday. "The actions we take are those of necessity, not of choice," Summers said in remarks prepared for delivery at the Council on Foreign Relations. He said President Barack Obama didn't run for office to manage banks, insurance companies or auto manufacturers.http://www.marketwatch.com/story/summers-says-us
Here are some closing commodity and dollar prices yesterday:
This next passage intrigues me. First the passage:
The rumours seem to indicate that the Fed has entered into the repo pool of lending out securities through State Street.
I bring this up because State Street is one of the custodians of the GLD and SLV along with Barclays.
Maybe this is why the Fed is getting involved in this arena. end
The first quarter has not been kind to Americans: