Something Wicked this Way Comes?
Gold is crashing the most in 30 years.
Zero Hedge notes:
The rapidity of gold’s drop is impressive, concerning, and disorderly. We have seen two other such instances of disorderly ‘hurried’ selling in the last five years. In July 2008, gold quickly dropped 21% – seemingly pre-empting the Lehman debacle and the collapse of the western banking system. In September 2011, gold fell 20% in a short period – as Europe’s risks exploded and stocks slumped prompting a globally co-ordinated central bank intervention the likes of which we have not seen before. Given the almost-record-breaking drop in gold in the last few days, we wonder what is coming?
Zero Hedge also points out that the extreme volatility in gold indicates counter-party risk concerns.
Stocks – and virtually all asset classes – are currently down:
In addition, 2 explosions at the Boston marathon today have killed several people and injured scores more.
The explosions are reported to have come from a trash can.
Finish line volunteers told to run. Describe fear “like 9/11 or the tsunami.”