With Facebook down over 3.5%, it appears the only real safe haven from Europe's catastrophe headline-fest is the precious metals complex. Gold and Silver are surging as Europe closes.
And...The newly appointed Finance Minister of Greece....looked at the books for the last three days and walked out. He quit. Cyprus is officially asking for a bailout. Europe is in recession and heading for depression. Merkel told Europe they are not the EU's private bank. It's pretty much all over. One or two steps left...doomed steps, but the Keynesian's will obviously take them. The first is to print money like there is no tomorrow. Next will be a lock on the money...currency controls. I keep calling for a last quarter global recession and I am right on target.
If you do not own gold you are a village idiot and deserve to live where village idiot's live - in a hovel and eat what village idiots eat - from garbage cans. If you want to hold *any* paper at all, make sure it is (ONLY) gold stocks, but your first hold should be gold and silver. I said ages ago...and am once again correct: 2012 will be like 2008, except on steroids.
There is one slim hope, and that is if the Americans vote out the Marxist and his Iranian-communist handler (Jarrett) and vote in Romney...and that slim hope then rests upon Romney having a "Harding Moment".