The man who sparked the tea party turns on gold taking the position that the days of Ayn Rand are over. In a world of just electronic money, what will be left? Interesting question to ponder. http://www.mining.com/they-securitized-it-the-man-who-sparked-the-tea-party-turns-on-gold-93605/?utm_source=digest-en-mining-130328&utm_medium=email&utm_campaign=digest

It seems the whole world is turning against liberty, freedom, and free speech. Russia has joined the club in shutting down any private group that is anti-government. One must wonder how far behind is the internet with Obama’s Kill-Switch. http://www.themoscowtimes.com/news/article/ngo-checks-unprecedented-in-post-soviet-russia/477667.html  

Italian leader Pier Luigi Bersani said Wednesday that only a mentally ill person would want Italy’s top job. This is starting to reflect the deep political problems rising throughout Europe. http://www.japantimes.co.jp/news/2013/03/29/world/italian-pm-job-only-for-mentally-ill/#.UVT20b8RbzI

The Euro closed at 12817 on the spot today. A close below 12824 will be a sell signal tomorrow. We have a Monthly Bearish at 12972 which if elected tomorrow will cause 13000 level to become important resistance for April. We have support at the 12625 area but after that we really have air until […]

The European Commission knew what it was doing. It refused to bailout Cyprus because it would be seen as bailing out about $4 billion in Russian deposits. But it had to abandon its sworn policy that there would NEVER be any default in Europe. Guess that was like Bush’s “read my lips – no new […]

The idea that we can use electronic money is certainly the way of the future. But unless we reform government, nothing will ever be safe. The Cyprus Confiscation shows how easy it is for government to act arbitrarily. They unplugged Iran and did the same to the Vatican until they agreed to comply. https://www.armstrongeconomics.com/2013/01/04/thirst-of-taxes-locks-out-vatican-from-electronic-wire-transfers/ The […]

The intraday Bullish Reversals on the spot Euro on a 15 minute stands at 128.55. The Weekly Bearish on the spot is 128.24. The last trade is 128.22.

The Euro has rebounded but only to retest the Weekly Bearish Reversal. The European Commission fails to understand that they have driven a stake through the heart of the Euro. It will NEVER be a reserve currency without a single debt. This crazy refusal to simply design a normal monetary system will be Europe’s undoing. […]

No matter what the news, the goldbugs find a way to constantly talk a market up detached from all reality. One reader wrote: “Now they way they’re spinning this is that the confiscation of deposits is all being done to encourage people to take their money out of banks and thus increase the velocity of […]

I have gotten off the phone with contacts in Cyprus. Everything is getting very scary. Politicians in Brussels and Germany are clueless. They assume that since they have the power to enact a law, the people will just follow it without repercussions. It does not work like that and they have crossed the line into the […]