In the immortal words of Jefferson Krull’s Rambo doll: “it’s over Johnny.” There is nothing for me to tell you other than “hide your dicks” because the guillotines are now being used on the longs.
Italian 10 year yields are at 6.55%
Spanish 10 year yields are at 7.58%
Don’t look now, but Polish yields are at 5.01%.
The market cannot and will not rally while ancient countries are on the verge of systemic failure. All of the money is flowing into US, Swiss, UK, German, Austrian and even French coffers. However, due to German greed and a desire to murder its neighbors, said monies are not being shared with EU members countries who are in despair.
There is a reason why I went to a 40%+ cash position yesterday: we’re heading the fuck lower.
In the event of another bailout, however, gold and silver will lead the way up, which is why I am long EXK in size.
But nothing will be spared in the coming melt down. There isn’t anymore corn and Obama is scheduled for another 4 years.