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| Sorry if I sounded abrasive. There are times when I need to wait a couple of hours before I answer. I think it comes partly from this feeling of frustration at everything that is unfolding these days.
I read now where Russia is selling lots of gold. They probably have to. I believe Putin when he says they are under attack. Putin probably knows that he cannot show weakness. There are plenty of cold war leftovers who would like nothing better than to take him (and Russia) down. Craziness, in my opinion. But, assuming the reports of gold sales are correct, it will be interesting to see if the market will absorb those sales and hold.
As for where money will flow - I've believed for some time that the USD is where a lot of it will flee to, and if the bond markets are not trusted, the stock market probably will see a big inflow. We are due for a our year cycle low right now, and this is one of the most reliable cycles in any market. If we cannot put that in, I suspect the market will roar off to a blow-off top. Just a guess. I think about a hundred years ago, the commodities topped in 1919 and the stock market ran until 1929. Could happen somewhat similar to then, IMHO. Gold could make its run once confidence is lost in the bond markets - again - my guess. | |
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Killing the petro dollar
