What goes up (and tests $1,280 overnight)... must not be allowed to go up for the sake of the children of the status quo. It would appear the BIS' Benoit Gilson [3]took over the reins from Michel Charoze this morning and the precious metal pilfering has begun. Why not? What else would you do faced with an Emerging Market FX crisis, various nations in mass upheaval, China's liquidity crisis front-and-center, and growth hopes around the developed and emerging world collapsing... buy US stocks and sell gold...
The BIS head of FX and Gold trading is hard at work
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