Jack the Pipper

Mr. Rogers makes commodities sound so easy. Even when he’s not wearing his bow-tie, Jimmy Rogers has it nailed – commodities are in a secular bull market.

I read with interest Mr. George Soros’ plan B for Europe, as succinctly laid out in and editorial the Financial Times this morning. In case the EU leaders didn’t know it, Mr. Soros is here to let them know it’s time for the eurozone to be “ringfenced,” i.e. insure the core remains stable despite the fact it may be too late for some countries on the periphery.

When I saw a headline after Jean Claude Trichet spoke after the ECB monetary policy decision yesterday, I had to scratch my head and check my calendar to make sure the year wasn’t 1984.

My old boss, Ross Perot (yes, it’s true), used to say that giant sucking sound you hear is the sound of jobs leaving the country thanks to NAFTA. Despite all the criticism from the free-market mantra clowns on the right, Perot was indeed proved correct, regardless of what you may think of the man.

I apologize, but when I think of gold bugs I have trouble not thinking of Mike Meyer’s performance as Goldmember in the third installment of the Austin Powers movies.

We are fortunate to have some very smart readers of Currency Currents. I learn much from them. JC, a reader of ours, nailed my sentiments toward trading in this market.

China’s real debt level appears to me much larger than anyone seems to know — even the Chinese. This kind of thing happens when you provide stimulus to your economy ranging from 50% to 75% of your entire GDP and allow your banking system to create even more leverage with a multitude of so called “off-balance-sheet vehicles.” Sound familiar to anyone? This movie ended badly during its first run.

Continuing along the theme of declining liquidity hitting the metals markets, I share with you a chart of silver I sent to Members of our Options Predator service last week

Unless you are either deaf or dead I am sure you have heard the incessantly ubiquitous ‘Buy gold!’ commercials on TV, on the radio, while eating breakfast, riding your bike, getting a cavity filled, etc. etc. etc.

I will be the first to admit it: it is a sad state of global affairs when anyone can believe, as I do, the US dollar can rally in the morass the US finds itself ensconced. To say we are witnessing a global ugly contest in the world of currencies doesn’t do ugly justice.