GLOBAL STOCK MARKETS REACH RECORD HIGHS... AS SOVEREIGN DEBT AND CURRENCIES ARE ABOUT TO IMPLODE

WHAT WE'RE SEEING - WITH GLOBAL MARKETS REACHING RECORD HIGHS -  IS NOT ANY INDICATION OF FUNDAMENTALLY GOOD COMMERCIAL OR GOOD ECONOMIC NEWS.

WHAT WE ARE SEEING IS A RESULT OF QE3 AND OTHER CENTRAL BANKS PRINTING TRILLIONS - YES TRILLIONS - OF SOON TO BE  WORTH-LESS DOLLARS AND EUROS.

• OIL AND ENERGY IS VERY EXPENSIVE.
• UNEMPLOYMENT GROWS GLOBALLY.
• INFLATION CREEPS STEADILY UP ON FOOD.
• AND IF INTEREST RATES GO UP, THEN THE MARKETS CRASH AND THE SOVEREIGN DEBTS BECOME CATASTROPHIC.

I EXPECT OBAMA TO ATTACK IRAN AND USE THAT AS AN EXCUSE FOR THE GLOBAL ECONOMIC MELTDOWN, AND HE'LL TRY TO PORTRAY HIMSELF AS THE PROTECTOR OF THE FREE WORLD.

RECENTLY, PUTIN BOUGHT 570 METRIC TONS - YES TONS - AS A HEDGE.

HE DID SO BECAUSE WHEN THE ESS HITS THE EFF ONLY GOLD WILL BE WORTH ANYTHING.

AND LEAD...

I EXPECT ALL THIS TO HAPPEN THIS SUMMER... A CRASH AND WAR WITH IRAN.

SIGH...