Where are we now?

With the exit of the United Kingdom from the European Union it seems that most tend to focus on the headline and forget to examine the underlying. If a group of people inside a burning building decide that it is not on fire - does that make it so? We have touched upon a major inflection point, but it has very little to do with the British. It began some time ago when the mainstream media began to openly question quantitative easing, but more than that was to actually entertain the notion that it may not be the magic bullet they once thought it to be.

The Federal Reserve, with all of it's efforts to stimulate the economy, realizes that escape velocity cannot be reached without natural growth.

The Chinese dragon is tired of building roads that lead nowhere and structures that will never be occupied - all for the sake of the big number.

The Japanese have gone so far down the rabbit hole, surely they will not stop until they own the entire Nikkei and all of the JGBs they have printed. Fact, indeed, is quite stranger than fiction. The Japanese narrative is akin to an animated feature.

In Europe there are so many banks that have been in the queue at the bail out/in trough for quite some time that we are not sure if they are bankers or beggars - professionally speaking.

Show me where in the world there is enough growth to keep the champagne flowing....I'll wait.....

The actions of the UK are not the bomb, but merely the whistle before impact....

The EU like any gang will now attempt to show the world what happens when members are insubordinate. Oh, Mr. Carney.....have you seen The Shawshank Redemption?


From my perspective the only decision to make right now is whether to buy more silver or gold.....bullion, not paper.