The most interesting trade of the day was the fact that there was no clear winner in today's blood bath except the shorts and oil contracts. Even then, oil was not a clear win across the board, as oil producers with exposure to Libya took a hit. Those who sold into the market were not rewarded with a strong dollar, like usual. Instead, the dollar remained flat. Precious metals consolidated back into their three day average
Some major interests moved out of equity today, and even out of precious metals, but they were not rewarded with any stronger currencies. Could it be that these interests equally dispersed the cash against a basket of currencies? The currencies of the world are about to be recalibrated, and I was not surprised by today's moves. The next moves may have quite a large impact on finance, assuming the ramifications are similar to what we have been seeing.
The only way any bank, central or not, could get ahead of the curve is if one declared gold the backing of a new standard of monie. Any State could charter a bank to do this, and it is not out of the question for a large State like China or Russia to do this as well. It has been a waiting game until now, but with Africa and the Mid East set to explode, there is nothing holding the future back.