Greece Frightening.
Max Keiser at his inimitable best:
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Insurrection is an option! Which is what I’m hoping for over here in the UK. So far we’ve dodged the bullet, although the Pound has taken a few in the chest “in the line of fire” (Cable is currently trading at 1.51). Our deficit at 12.8% of GDP exceeds that of Greece, but at least we have currency debasement as an alternative method of impoverishing the middle class. The Greeks have Van Rompuy for that task (socialist impoverishment), and I for one would like to welcome our new overlord:
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squeal like a pig, boy ..
Interesting fact I learned this week: Spain now has a youth unemployment rate (16-25yrs) of 40 percent!. That’s worse than my local estate. The EU certainly has a tough choice to make in the coming weeks with the Euro being shorted to hell and the PIIG dominoes ready to fall.
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on the upside ..
The week ended on a high note for gold. With stronger than expected economic figures coming out of Asia and also rumours abound that China could be snapping up the remaining IMF stocks, Gold rose back above $1100, also bringing Silver back above the $16 mark. Precious metals also appeared to be changing their dynamic, rising with the dollar, as investors moved away from the worst of the worst currencies into the few remaining places of sanctuary. It all bodes well for a continued +$1000 bullion price and the resumption of the bull trend.
