As Jim suggests in his commentary "One Of The Most Important Events In History & Gold"
“What’s just happened is the IMF has backed up, lauded, supported, and publicized, as if it were a victory, the taking of 10% of what really turns out to be 80% of Russian ‘black money.’ Russian ‘black money’ is KGB money, now in business. The leader of Russia (Putin) was a former KGB official. Who’s money do you think they have taken? This is the biggest mistake the IMF could possibly have ever made.”
Could this be the trigger event that finally releases the potential energy stored deep within in the paper gold market? Clearly Jim thinks so. I would also suggest that gold has and would always be primed for the unexpected well ahead of any headline 'trigger' event that alters consensus expectations.
Gold is ready, so at least try and act surprised when a technical trigger is generated (chart).
Chart: US Federal Budget (Surplus or Deficit As A % of GDP, 12 Month Moving Average) and Gold London P.M. Fixed:
Headline: Cyprus Bailout Threatens Market Rally
The decision by the euro zone to force bank depositors in Cyprus to contribute towards a bailout, a first in the euro zone debt crisis, could hurt other peripheral nations, the euro and the global stock market rally, analysts warned.
The decision shocked many, including Sharon Bowles, chair of the European parliament's economic and monetary affairs committee, who called it a "disaster" for European Union rules and the single market.
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