Here is the rising gold chart:
Here is the US dollar:
Since the open the dollar has pulled back a bit, but if you look above you can see that the spike in gold occured at the same time the dollar was at it's strongest. Let me put up one more chart.
Treasuries are also soaring this morning. Let's take a look at the 10 year bond:
The Bottom Line
Translation? People are scared ****less and have no clue where to put their money. They don't trust any currencies, they don't trust stocks, and they don't trust Wall St.
As a result. investors end up going back to "old school" flight to safety investments like gold, bonds, and cash.
The Eurozone mess continues to worsen. The trading robots have managed to control the pain over here thanks to some better than expected Chicago PMI and consumer confidence numbers.
The way I see it, a confident consumer is not a positive in this environment because about 20% of them are jobless. The fact that they are spending(and the data is starting to show this) and not saving is pretty horrifying when you think about it.
When TSHTF these people will be wandering the streets homeless wondering how this all happened. I find it sad that the majority of the people in this country are so stupid.
The elite continue to dangle consumer carrots in front of the serfs and they continue to take the bait using their unemployment checks and what little left they have saved.
Anyone with a brain should be hoarding cash right now. The debt bubble freight train is heading right at us full speed ahead and there is nothing we can do at this point to stop it.
Europe will go down first and we will quickly follow them. I am loving this huge move higher in treasuries. Once the PIIGS go down US bonds should be at near all time highs.
This will create the short of the century as we get targeted next. Remember folks, we are Greece, but risk is relative so our bonds and currency should fare well as the European crisis plays out.
Don't be fooled when this happens because once the PIIGS are done getting torn apart we are next.