Another bear raid.
As a reminder this is the big 'triple witching' option expiration for stocks this week. The miners are fair game.
As you may recall, there was a significant amount of civil unrest in 1932, which was a presidential election year.
The Bonus Army of WW I veterans occupied Washington until they were forcibly dispersed by the US military led by Douglas MacArthur. The veterans had been encouraged in their peaceful occupation by Smedley Butler, Major General of the US Marine Corp.
Butler later testified in 1934 that he had been approached by several powerful industrialists who asked him to bring the Bonus Army back to Washington and take the government by force of numbers from then President Franklin Roosevelt, in a scheme that was known as The Business Plot.
This reminds me of the co-opting of the Tea Party, which started as a protest against TARP and the bank bailouts, by today's monied interests.
Fortunately our modern day Herbert Hoover is not so much the liquidationist as his business friendly predecessor.
Obama understands the need for bread, and Wall Street supplies the circuses.
But if history rhymes once again, this could be a long, hot summer.
