More Global Elections and Gold
Trader Scott’s Market Blog
February 17, 2017
There are many elections coming up this year of significance. The one with the most potential for disruption is in France. The disruptor, Marine Le Pen (Le Trump, so to speak) is leading in the polls to win the first round elections in April. Le Pen has stated, among other things, that she wants out of the Euro. But there are also crucial and potentially disruptive Italian and German elections coming up as well. So once again, although the US$ is a piece of crap, currencies are relative, and the Euro is about the crappiest. But has the $ already discounted some of these upcoming situations – very unlikely. And inIndia,another country with a total piece of crap and useless currency, there are elections in several states including Uttar Pradesh. It’s India’s biggest state with 220 million citizens – bigger than Brazil. The globalist Prime Minister Narendra Modi, has been a total disaster with hiscash ban. The citizens of India have dealt with an extremely corrupt government for ages (not that my government is that great). The election will be another chance for citizens to show their contempt and disgust with their globalist leaders. The Indian citizens probably don’t have the same sentiment as the citizens in Europe and the US, but it will be a good test for anti-Modi feelings. But all of these elections are showing the total disgust people have for the entrenched politicians. Whether the new ones will be any better is debatable. But for me, all of the rising tensions around the world adds up to 2017 as finally being the year for a more sustainable rally in gold, especially the shares, and commodities in general. While the $ will also see a lot of buying with all of the turmoil. But the relative currency attractiveness for will slowly seep into gold, especially with a major top in the US$ approaching – we just have to get there first.
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day.Scott returned to markets over fifteen years ago where he continues as an independent trader.