Monday, June 4, 2012


                                  Her Majesty Queen Elizabeth

Really, who can blame the Brits for wanting to party for four days to celebrate one of the world’s best loved Monarchs? I mean, after having to read and listen to all the hooey news out of Europe these days, partying might be the only way to stay sane.

Who cares if your currency is down 1000 pips in the last month? After all, it just means all those people who had to buy Pounds to play now get ‘em cheaper and can spend more. What’s not to like here?

But lest we forget, let’s go back in the vegas hot tub time machine and remember back this time 20 years ago when the cry from the political elite was for the Brits to join the EU and give up the Pound for the Euro. If I remember correctly, it was John Major who told the EU to go pound [pun intended] sand. And of course, the bloatacrats in Europe were aghast.

Well, who’s partying now and who is drowning in debt?

Meanwhile …… in marketville, plan on nothing happening in London for the foreseeable next few days as people first party, and then need the upcoming weekend to recover. If it’s gonna happen, it will be in the Asian or U.S. trading sessions.

Meanwhile ….. in the hallowed halls of Europe, the Central Planners are still trying their collective alchemy skills to make 2+2 = 22 and find a way to make trillions in cow chips [otherwise known as European Sovereign Debt] look and smell good to the public.

“Can we just get one trial balloon you guys in the market might like?”

“Errrrr, no.”

And then we have Greece; now that we are 2 weeks within elections, no more opinion polls. So, it’s back to normal for the 40 year old philosophy students at university who can’t bear the thought of life without somebody else paying for it. It’s your basic SNAFU all the way here.

Have a good day everybody.


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