Armstrong cannot be written off, many of us think something big is going to happen soon. I just wonder if gold will get dragged down with the rest, for a while, again. I dont think it will.

I can not see any real downside to, say, the US and the EU, setting the gold standard at enough to bail them out of debt and obligations, ($13,664is a fair calc).
They, along with the usual hangerons, should be successful in this sort of re-balancing act.
This would provide an opportunity to continue the export of dollars, go off the standard at the appropriate time etc. “Run the cycle again” I say.

Martin Armstrong is a rare individual whose writings are prescient. As the Ed. stated, Armstrong’s predictions have not been perfect, but how could we ever expect them to be? Those who are sincerely interested in Armstrong’s writings can peruse them here at this site:
http://economicedge.blogspot.com/2009/04/martin-armstrong-article-anthology.html

It’s tough to forecast any event to the actual day; 13 June is 16 days from now. Consider the fact that meteorologists can’t even forecast with any degree of accuracy, what the weather will be 2 weeks from now.

Many laypeople believe that some significant global financial event is likely between now and September 2011. We know, almost intuitively, that something is very, very wrong with the global financial system, and we know that the central banks and their cronies at the big investment banks are continuing to manipulate everything (including Greek CDSs!) as if there’s no tomorrow.

The global financial system is in great turmoil, and we, as laypeople, sense that. As the Ed. says in his last paragraph: “Such uncertainty is troubling in itself…”

Mid-June is when we will start to see the initial 2Q reports coming out revealing the losses associated the Japan’s Earthquake, Tsunami and Nuclear Meltdowns. The loss of productive capacity, though the government of Japan (lately about as truthful as TEPCO) says has recovered, was significantly diminished and created all sorts of JIT supply lines to fail.

These effects were negligible in 1Q reports because the earthquake happened in March, but will be washing through the 2Q reports as the full impact is revealed…and it will conitinue to create problems for the foreseeable future, in spite of what the government of Japan says.

Couple that with the FED creating conditions where QE3 will be demanded by the public and politicians and we will see dramatic resets in equities.

as far as cyclists go, martin;s 8.6 yr. has been pretty accurate.

we are approaching the end of the beginning of this is all.

large public default to banks->bank bailout by govmint->govmint debt crisis->currency expansion or austerity strangulation->govmint currency crisis.

we are in uncharted territory in this paper-credit-faith experiment.

the final worldwide re-adjustment will not be pretty or fun.

@ boatman:
I like your phrase paper-credit-faith experiment!

What baffles me is why most folks in the world can witness all of this continuing financial chaos, money printing, global turmoil, etc. yet they still have faith in this paper currency.

baffles me too Obewon….. (also the name of my buddy Hobie’s sportfish boat)

collectively, human beings were never meant to NOT be revenue constrained…..witnessed my many of my friends credit card balances….and most of the divorced broke lottery winners a few years later…..you can retire in greece at 52 at 80% being a hairdresser(a hardship occupation)—-child please.

greece default(n then rest of PIIGS) to paris n hamburg sets off europe which sets off planet.

I agree with the sentiment that ’something is about to happen’. Those of us who are switched on can certainly sense that we are, as a global financial community, on the verge of ’something big’. Perhaps we are like the animals who head for shelter before an earthquake happens, or run from the forrest before the first signs of smoke are even visible. Either way there is trouble ahead. My personal feeling is that we are going to see a sudden and rapid accelleration of the devaluation of all major Fiat currencies (which is already in progress). After this happens your guess is as good as mine what will follow, but whatever it is, it is going to hurt a lot of people.

Ed Note: Yes we had the same feeling before the global financial crisis, why is this not discussed more widely? It must be down to vested interests and attempts to get the last fool to buy…

Hawaii Trading pointed out these fractals last Wednesday, and predicted a
whippy ramp followed by a sharp drop. How true that became! Below
the chart is the link to the original chart.

That lower orange line is like a multiyear line in the sand. It images better than Vix alone.

Funny the VOS appears to be an amazing indicator, and yet have never had
a single comment on it. I guess people don’t like Steroids?

http://oahutrading.blogspot.com/2011/06/volatility-on-steroids-holy-grail.html

Earlier post on VOS

http://oahutrading.blogspot.com/2011/06/vos-is-very-consistent.html

@ boatman:
I laughed when I read your latest post . . . and recall reading a number of articles about how various professions in Greece (including the hairdressers!!!) have lobbied very hard to get an early retirement age. One of my wife’s friends is from Greece, and her account of what is happening there “behind the scenes” is rather ugly. In a nutshell, she feels that the entire society is breaking down, where trust and faith in other people is practically non-existent.

@ The Old Man:
On this blog, we’ve been discussing that topic (i.e. “something big about to happen”) for a while now. Back in February 2011, when silver started going almost parabolic, we re-coined that old phrase “something wicked this way comes.” Surely, there will be lots of surprises in the near future … especially for the arrogant banksters on Wall St., who claim to have everything under control with their constant, manipulative schemes … even the VIX is manipulated!