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With the dollar down, stocks up, and gold and silver down one might suspect today was an option expiration day in a delivery month on the Comex.
And so it was.
Greek vote on their bailout plan may move the markets later this week.
I put the long gold/silver and short stock indices trade back on today at an opportune moment in honor of the anomalies provided by an option expiry.
Eyes are on the Greek bailout vote.
Light summer volumes.
The US equity markets are coiling within obvious symmetrical triangles. They will break up or down, and that break *should* mark the next leg once confirmed by a daily close or two.
The SP 500 cash market has been finding support around its 200 DMA the past week. Traders are watching this carefully, as well as VIX, for the signs of an impending break lower.
I did add some index shorts intraday.
This interview will help you to understand the problems surrounding the Greek crisis, the intended looting of their public resources, and the model that is being repeated by the banks around world.
Rickards on Regulatory Capture, Corrupt Banks, and the Credit Default Swaps on Sovereign Defaults
Around 2000 I came to roughly the same conclusions that he does. I had the opportunity to study the European money system while it was forming in graduate business school, and it just did not make sense.
The euro was probably going to fail unless the union became a unified federal government with one set of laws and taxation policy, with the kind of revenue distribution that exists amongst states in the US, for example.
A single currency cannot span independent fiscal authorities because it removes the ability of the currency to flucuate in value based on their independent economic health, acts of God, and social policy choices of the different social organizations. This is basic monetary theory. I was surprised that it lasted as long as it did, but it was to the advantage of the financial world to tolerate the attendant deceptions because they were growing fat on it.
And a similar thing can be said for the global currency trading regime based on the dollar and arbitrary valuations subject to national manipulation. It has allowed multinational corporations and banks to achieve tremendous power and advantage over local governments.
In other words, the currency regime and financial deregulation are the setup, and the credit default swaps are the trigger. Why the politicians permit the naked selling and buying of such instruments by banks handling public money is beyond my understanding, save pure, blind greed.
I always thought that a crisis would be put forward as an opportunity for the 'one-worlders' to once again promote their idea of a one world government, and a universal order of central financial authority that eventually and inevitably evolves into a single political system. And that is still very much in the cards.
For this to happen, national governments must be undermined and absorbed, their people brought down to their knees financially. And then their saviors can begin the work of ordering their lives.
