Golden Jackass Tobacco Shop

[JimWillieCB]

wow, that one was a keeper
destined for a post on the office wall
where did you find that?

all the elements are now in place
dismal low shorterm trez yields
European Central Bank has put its head firmly up its ass
end of cover run motored by bond rebalancing
elections over, GOP will offer fiscal stimulus
the dollar has broken somewhat, more to come
path is clear to war
JPMorgo getting attacked by lilliputians of rumor
Brazil has new president-elect favoring default
gold has had at least three months to consolidate

what I find amazing and pathetic is the wide view held by many amateur observers that war is good for kickstarting the economy
I could not come with a single better reason why the economy would simply cave in

crude oil is off $5/bbl in one month
it now sits at a critical moving average (of support?)

the yield spreads have NOT reduced much at all
not enough to take pressure off the derivative explosives

probably another minor ambush on the gold longs
will take that as opp to buy more shares
/ jim

p.s. been real busy in the last few days
visitor from out of town, old friend from Boston
and prepping an article for publication on a main gold website
look out! the jackass is coming out!