Debt Plans Debated While Gold and Silver Soar
The market wires are ablaze recently with news that all is well in the relationship between Athens and the elites of the Eurozone. The Greek bailout is a fait accompli. The markets have responded with a relief rally that has taken the pressure off of stock and commodity markets internationally since the beginning of July.
All is quiet on the Western Front, one would think. The nagging question is: where is all this money to bail out debtor nations going to come from? Indeed, the Greek Canary is singing. Perhaps we should pay attention to its song as he is being accompanied by the melody of the steady beat of the printing presses.
It has been the contention of my firm that QE3 is being skillfully engineered by our economic mavens. It matters little what moves are being played in this masterful chess match. What is of import is the end game.
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