SOCRATES ENDS IT ALL Update I

In a final poisonous act of defiance Socrates ends it all…. Portugal becomes an ethical dilemna as the Eurozone takes front and center again. You can only hide your plight from the world so long. Portuguese interest rates are now trying to find some cover from the bond vigilantes but there is nowhere to hide with the death of Socrates. He could have been saved but his parliment decided to feed him to the lions……I had better stop mixing metaphors. Anyway this is starting to warm the fires of the Eurozone and creating angst in our bankers. Right now the Euro is beginning to teeter as the rescue/bailout boyz dig into their bag of tricks. Words like unit labor costs are starting to creep into the lexicon again as the excesses of the PIIGS begin to shine brightly. Germany which has its house in order by comparison is now going to be faced with another test of their leadership to hold the “zone” together. This is NOT going to end well. Just remember….any concessions given to one PIIG is going to be demanded by the next PIIG but its that S on the end of the PIIGS that is completely out of control and very big. Watch Portugal here the Irish are already crying they want more concessions on their austerity measures. This should be quite a dance.

This kind of dance should feed nicely into some dollar strength but the last time we did the Euro dance/jig the dollar strength only added to gold’s luster as fear pushed the gold metal higher. In the face of a rising dollar this time we may silver move higher also as it takes the lead as a safe haven. Remember….central banks have gold…they can manipulate its price more easily…..but the have no silver and it takes more imagination to maipulate its price. See the recent news on JPMs suddenly new precious metals warehouse to store their massive ammount of imaginary silver bullion.

The move in PMs and miners may catch some wind in their sail with the Eurozone troubles unless the PTB can kick it down the road quickly. I’m glad I’m not pulling this rabbit out of my ass. good luck and lets stay put with our trades for a few days.

update I….. Earth Shutdown ….countdown commences NOW…..this is not a test… JPM institutes bullion warehouse for naked shorts cover-up with CFTC approval….Tokyo running out of bottled water today…..Japanese no longer require night lights in bedrooms…..most coastal Japanese cities north of Tokyo gone…. Portugal say’s Foch You to EU ponzi…..Germans say Foch you to Portugal….US stock markets Rally…so I will reveal my true identity to you as I shut down the earth tonight….gl

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