I guess we’re beginning to see why gold rallied so sharply last Friday on the afterhours Globex. What we have here are the early stages of a global loss of confidence in the omnipotence of the central
bankers planners. As confidence is the only “asset” backing their scheme, a growing loss of confidence is utterly devastating and this begins to lead the world back to the certainty of gold and silver.
Once again, events are moving very quickly so we’ll try to sum up as best we can…
The big action overnight was the continued collapse of the USDJPY. It fell rapidly through 113 and 112 before reaching a low of exactly 111.00. This was the maximum pain and embarrassment that the BoJ could bear and they reacted quickly, with an enormous intervention of nearly 2 full points: