The Chris Powell interview which I posted the other day is quite good, and I suggest you watch it if you have not done so already.
Someone is leaning all over the precious metals market. It is hard to tell who and why and when it might stop, but history suggests that if these fellows lose control of it, the result could be impressive.
That might make for a fairly straightforward trading strategy, except that Europe is tilting on a knife's edge of insolvency, and that induces quite a bit of event risk in the cash markets.
The real economy is faltering, the international money exchange system is broken, the financial system is crooked, and the politicians are in the grip of the monied interests and a nasty credibility trap.
Other than that, everything is fine.
This is 'the phony war' phase of the ongoing currency war. I suspect we might see some serious fireworks in September-October for a number of reasons that I do not care to go into at this time.
