So, Bitcoin has had a crack. Which spread to the next anti-fiat defacto currencies: Gold and Silver. Gold has had a huge drop but looks like $1,100 to $1,200 to me before all is said and done. Minimum objectives seems to be around $1,300. Silver, also is down just about 50% off its high but, not withstanding a few bounces to come, targets roughly $15 before a substantial turnaround is to occur. So, we have inflationary commodities cracking like Gold, Silver and Oil yet the most inflationary asset of them all “STOCKS” are still standing…I think the crack will happen there too…in a very similar manner. Nothing a 70 to 100 point down day on the S&P would not fix - and it seems likely to happen soon. Certainly, sooner than so many of the abundant bulls may think.
BURNanke and company should be proud…and Cyprus is not dead or gone and not fixed.