With tongue firmly in cheek, your friendly neighborhood Gold Enthusiast offers the following observations.
It’s been a busy couple of weeks on the international scene. First (by your Gold Enthusiast’s remembering) was news from Europe that Greece wouldn’t meet it’s latest interest payment. Despite those being renegotiated down at least twice in the last 5 years. That drew hardly a stifled yawn; after all, you’d have to have been born since 2015 for Greece missing a payment be any sort of news. And any analyst who said that was an unexpected event probably got their pay grade reduced by 5 or 27 steps.
Then came more news out of the EU. This time several of Italy’s banks were found to be in dangerous straights. More specifically, some balance sheets were apparently sinking, under more than global glacier melt. Sigh (you could almost hear Mario Draghi sigh from here in New York), and just after he’d somehow temporarily convinced the world that a group of countries, only two of which can actually pay their own bills, could be worth investing in again.
That came along with similar news from some Spanish banks, one of which has been teetering on “having major issues” for, oh, well, since something big happened in international finance in 2007. “Having major issues” is a household code phrase for The Gold Enthusiast’s family unit to don their yellow rubber duckie swimmie vests and get ready to watch the ship sink out of sight.
Then, because Donald Trump didn’t get caught saying anything stupid one day, North Korea decided they weren’t getting enough attention, and threw a typical teenager hissie fit (another code term) and told everyone they were going to punch them with a nuke if they didn’t get more attention RIGHT FRIGGIN’ NOW. The Chinese reacted with typical aplomb, having been in the parenting role toward North Korea for some time now. They moved some troops around so the Korean Fearful Leader would know We Really Mean Business This Time.