Upper Bound

Here comes the rain again
Raining in my head like a tragedy
Tearing me apart like a new emotion
--Eurythmics

Russell observes the bullish technical setup in the miners. Saw the same thing yesterday and scooped some of the Market Vectors Golder Miner ETF (GDX). Over the past few months I've been assigning more chance to the deflationary scenario but that's not what the charts are saying.

As Russell notes, countries around the world are in debt up to their eyeballs and continue to engage in policymaking certain to destroy the value of paper currency over time. Gold does indeed seem the riskless currency given the situation.

positions in GDX, gold