Thursday, September 15, 2011

European Explosion

The "M"arket "M"arkers did what I expected them to do and come together with a very incestuous bailout.  First China pledged support of Europe, then Geithner demanded the status quo stay, and now Europe has offered up their sovereignty for pennies on the dollar.

Gold crashed because it was loaned out to finance the effort.  I think its support is at $1775.  As I write it is slipping past that but maybe support will catch around there.  Oil was up today on the back of a weak dollar, which shows how oil still trades directly against the greenback; this is one trade that has not failed yet.  Stocks capitulate, as they have no idea what to do in this sea of financial turmoil.  They should go down but Geithner, Bernanke, and their Working Group will not let that happen.

On the horizon something ominous looms.  It can't be made out, but we can see it's black cloud like shadow.  What ever it is it will destroy the fiat ponzi.  We will meet it soon, and find out accordingly.

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