As expected, the Cyprus assault upon wealthy investors has spooked the markets, Cyprus banks needing even more assistance than previously stated are selling off precious metal holdings, the results have sent panic through the market, all major indexes in panic mode..
Oil down below $90 dollars..Silver seeing new lows, Copper falling as well...
And the big shocker, Gold fever panic..
Gold down nearly 10%...Falls well below $1400 per ounce...
The jubilant markets of late were mere smoke and mirrors, reality is setting in, stagnant growth, high unemployment around the world, the masses getting poorer while wealth is concentrated in too few hands..
Gartman on Gold: We’ve Never Ever Seen Anything Like It
Gold prices continued to plummet Monday on concern that Cyprus will have to sell excess reserves of the precious metal to raise about $522 million to help finance that country's $13 billion international bailout, Dennis Gartman, editor of The Gartman Letter, told CNBC.
"There are a lot of people throwing up their hands. Throwing positions overboard. Panic is everywhere," Gartman said in a "Squawk Box" interview on Monday. "I've never seen anything like this. I mean it."
You can`t austerity your way to prosperity, you can`t keep taking from the middleclass, you can`t cut services, pensions, you can`t continue to protect the fat Wall Street type cats who stole the world`s wealth..
Congratulations to Justin Trudeau..I wish you well..
As as told here at The Straight Goods....The Harper smear machine attack ads against Justin Trudeau started today...How predictable these rightwing smear slimers have become..Also, as stated here, the attack ads against Justin Trudeau won`t work, they will actually drive more voters towards him..
Harper`s attack ads claim(while playing clown music) that Justin Trudeau has no experience, he was a whitewater rafting guide, a drama teacher, another ads show Justin Trudeau with no shirt on..
Well my friends..
It`s economists and corporate owned leaders who totally screwed the world..
I think it`s time to boot economists and corporations out of the premier`s and president`s offices around the world..
The Straight Goods
Cheers Eyes Wide Open