I think what we are seeing is the beginnings of the recognition that all the political promises around the world are untenable and need to be unwound, and gold is the world currency.
Countries need to "de-leverage" or cut back entitlements, but they can't because of 1) the expectations of citizens (they won't do without, they like the fantasy worlds promised by lying politicians); 2) the politicians simply cannot enforce any discipline upon themselves and their citizens (the citizens voted in people just like themselves).
What America learned in 2008 is they can fight off shorts that would force corrections and expose bad policies by putting the whole country behind the failed institutions and hiding the losses behind the veil of the Federal Reserve (watch out for a Repo 105 when that "audit" is performed), Europe now has the entire world behind it.
This move was basically a unifying move without formal structure, that would be the next move! World unification to fight off the bad, bad vigilantes that want to expose errors, corruption and failures of organizations, oh, I mean destroy the world. Who will be the leader? The politicians are colluding to cover up failed promises and failed agendas and failed intervention. The problem grows ever more unmanageable and out of control.
T. Echols
Manchester-by-the-Sea, MA
