Loading ...EXHIBIT B
The Yen Topped out WITH Gold in 2011
Then had a wicked Fall
Now sideways for a long time
Today it may have broke DOWN
Question for Sir Plunger.
Is This NOT one of your metrics for the Post Bubble Contraction >?
The unwind of the Yen carry trade and thus a Stronger Dollar ?
Of course it is. World’s reserve currency gathers strength in a PBC. Reason b/c most debt is denominated in the reserve currency. Debt is a synthetic short against the USD so this creates a huge demand to service the debt in a contracting economy. Gold can go down, but goes up in real terms. Bull market for gold stocks… KaBoom.
I did not like that golden shooting star candle today. I liquidated the miners I had been accumulating for the BMR. Preservation of capital is paramount.
I liquidated as well. No only playing the SM downside