The world somehow is still playing imaginary; the dollar and all fiat assets have levitated for the last week. Real monie- precious metal, has inched up, but there has been no major move since gold topped at $1820. What is the next move, and what is the world waiting for?
Apparently, people have not figured it out yet. People are only jealous that gold is appreciating in value, and above all other "assets", whether they are or aren't such. Oil has come up a little, but has only pared losses. Fiat is still playing its game of pretend.
People will rather live in fairyland than face reality. This is the truth. Of course, reality always makes itself known, and it needs no precedent, but the slightest thing can bring it to the fore. A flap of a butterflies wings, if you will.
It could be Bernanke at Jackson Hole announcing, or not, QE 3. It could be Hugo Chavez demanding gold and it being delivered in the form of a cash check. At this point, anything could set the world of reality in motion, but the funny part, people will go to the ends of the earth to maintain the status quo.
So, we keep pretending. We pretend until the wheels fall off. This will be disastrous, like a night blacked out drunk awoken in an unknown place naked. This is what will happen, it looks like, as the world appears more belligerent than ever.