Meanwhile, the euro is up 3.7% for the week, as all the Continental news organizations are breathlessly reporting.
Generally, everything seems . . . calm.
Meanwhile—like a ticking time bomb—U.S. fiscal debt is ballooning, European debt is ballooning, everyone is racing to the bottom, trying to devalue their way out of this mess, jobs creation is no where near on pace to make up for all the lost jobs (“job creation” is really just “slowing increase in unemployment”), and all the while, commodities—be they agro, precious metals, industrials, and oil—are all steadily rising.
Mm-hmm [he said, scratching his chin and carefully looking around]: Therefore, the end is near—run for cover.
The calm before the storm!
ReplyDeleteYou may have seen this already, but I found this chart on DailyPaul.com on gold and silver in the Weimer Republic very revealing. Notice how gold and silver, though rising, dropped off for a sec then rallied like crazy. Of course we can't use this as a concrete example for our own gold and silver markets, but it's telling nonetheless:
http://www.dailypaul.com/node/152768
I think this lull we're in right now coincides somewhat to May 1920.