Gold Dips Below $1600 and Then Pares Losses

Over the weekend i read somewhere ther is a rumor of another 15-20% margin hike coming in gold.

True or not it is a shame that central banks and markets are trying to push investors out of perceived safe havens.

Gold is trading down $7 @ $1,631.60

Europe’s markets and banks are experiencing a bounce. Call it hope or a bear market rally, but we will take it as U.S. futures trade higher on Europe’s gains.

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Gold, silver and platinum are getting smoked right now, with silver leading the way lower by almost 6%.

The Japanese markets are getting crushed again, currently saddled at new 52 week lows- off by 2% on the session.

and so the world nervously  waits…..

After gapping up 120 points on the Dow futures, they have been slowly but surely reduced to 18 points, as global pessimism grips the emotions of dog brained futures traders.

The comedy of bailouts and tapping funds gets better and better.

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Hugh has been spot on with his calls and now he states the problem is more than policy makers can deal with. Furthermore Greece, problem du jour, will have to solve the problem by “throwing the politicians out and rejecting the European ideal.”

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Without saying downgrades are coming Beers implies that there will be consequences for inaction; even for Germany and France.

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Nothing significant came of this weekend. The ECB will try to convince the world that current funds are sufficient; that they need not to raise more capital.

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The Nikkei is down by 1.21%

Currently up roughly 1%

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French bank chief denies there is a secret $1.7t plan in the works.

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[youtube:http://www.youtube.com/watch?v=SAH3hpCdthw 450 300]

“The greatest shortcoming of the human race is our inability to understand the exponential function.” ~~ Albert Bartlett

This article and paper written shows why the Euro zone could break up faster than most think….

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GDP slowdown seems unavoidable at this point and threatens to exacerbate the sovereign debt crisis.

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Endless ways to waste your money….

In six weeks there will be another G20 meeting in France.

I say the ECB should have already fixed the problem.

Interesting read and commentary out of the U.K.

This article is not that significant other than to magnify how confused the ECB is over their current dilemma.

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