“The Charge of the Light Brigade” drives EuroGold

Posted by Greg Weldon - Weldon's Money Monitor

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On October 25, 1854, in the Crimean War, 673 members of the British Cavalry, ‘charged’ across ‘The Valley of Death’, to engage twenty Russian ‘battalions’ supported by fifty pieces of heavy artillery, and assisted on the flank by the French cavalry. It was the ‘Battle of Balaclava’. 

Historians suggest that the Russian commanders believed the British horse soldiers were drunk, as they charged across the wide open field, defining the ‘valley’ by the Fedyukhin and Causeway Heights, taking heavy casualties. 

From this, the famous French phrase … “C’est de la folie” was born … 

… which, in English, means … “it is madness”

Indeed, thoughts of a successful reflation package to be offered by the EU and/or ECB … is madness. 

The European fiscal picture is … madness.

“Charging across the fiscal valley-of-death, the European governments are getting slaughtered, and the currency is at risk”.

“The Gold market is NOT going to ‘fall’ for the Three Card Monty, and bullion bulls refuse to be the ‘mark’ for EU-debt-hustlers, as we shine the spotlight on Monday’s upside breakout in the Eurocurrency ‘denominated’ price of Gold, shown in the longer-term weekly chart on display below. Not only has EUR-Gold violated the 800 euro-per-ounce level, but we also focus on the fresh bull signal emanating from the long-term Oscillator.



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