The last of the Hapsburg Empire has taken his leave. Harbor no belief that the positive action on gold and silver today is unrelated. As ancient and corrupt medieval empires crumble into the sea, the strongest of civilization’s institutions remain standing, anchoring our economic and social order.
Otto von Habsburg, who has died aged 98, bore the oldest and most eminent dynastic name in European history and could, according to genealogists, trace his ancestry back to the sixth century. The pretender to the defunct thrones of Austria, Hungary, Croatia and Bohemia (now part of the Czech Republic), he pursued a democratic postwar career as a member of the European parliament and a fervent advocate of European union.
A fervant advocate of European Union? Imagine a thwarted emperor advocating that? One wonders what Otto’s countrymen, Hayek and Von Mises would have thought of all that?
All of the Jacksonians and other gold and silver dreams are celebrating the Fourth Of July, seemingly independent now of the dollar’s flux, up over an average of 3%. Favored Jacksonian’s SLW, ANV and EGO are all up over 4% as of this writing, and EXK is up over 9%. Still, our friend the $HUI is having troubles breaking that near-term barrier at around $528, so we are not yet out of the Austrian woods, so to speak.
More on that tonight.