"Violence, less and less embarrassed by the limits imposed by centuries of lawfulness, is brazenly and victoriously striding across the whole world, unconcerned that its infertility has been demonstrated and proved many times in history. What is more, it is not simply crude power that triumphs abroad, but its exultant justification. The world is being inundated by the brazen conviction that power can do anything, and justice nothing."
Aleksandr Isayevich Solzhenitsyn
There was a flight to safety in the precious metals this morning on the news of a commercial airliner being downed near the border of the Ukraine and Russia, and that Israel has launched a ground invasion of Gaza. Volatility spiked on wars and rumours of war.
Violence and disorder tends to trump the printing press. Truth is led down a blind alley and strangled.
Apparently the markets have not read the memo that there are no fundamentals for the precious metals. I expect a bravado confidence to return to the markets soon enough. Until the next 'big event.' These fellows have no limits.
Well, Bubbles has had her say, and the fog of currency war descends again on the Pax Americana.
Have a pleasant evening.
