The referendum in Italy was lost. There won’t be reforms to the Italian Senate. The margin of defeat for the referendum was 41:59. Italian Prime Minister resigned. The Euro and European stocks rallied. It gets funnier. A Bloomberg story says, in all seriousness, that financial markets figured it all out in 3 minutes. 3 days for Brexit, 3 hours for Trump and 3 minutes for Italy.
Until last week, gold fell because the U.S. dollar was stronger. Today, the Euro strengthened against the U.S. dollar. Gold had dropped another ten dollars per ounce.
We are supposed to believe that these are normal market moves made by normal investors.
Desperate times call for desperate measures except that it will make the situation more and not less desperate! A tragedy of immense proportions awaits us.