What's the line from "Airplane"? Looks like I picked the wrong week to quit smoking...give up amphetamines...stop sniffing glue...etc etc etc. Well, this is that week. Not only are global markets melting down in a possible contagion that could get much worse before it gets better, but the entire MENA region sits on edge as full, all-out war remains a possibility. Maybe I won't quit sniffing glue, after all.
So, two weeks ago when COMEX option expired, we saw gold prices get slammed due to overt price manipulation. That day was not connected to the "yen carry unwind". Today,...