Cash is King

Much has occurred since last week. The EU system is now showing signs of a breakdown as member countries are having difficulties deciding how to best deal with the global economic crisis. With Ireland now insuring consumer deposits and Germany helping their banking system with a bail out of their own, investors are wary and have begun moving their money back to safe haven assets.

My first target on the Euro was reached; however, I did miss the aftermath of the U.S. bail-out bill. I'm surprised gold has not topped $1k as it is the first "go-to" safe haven asset. If current sentiment continues, I'll be looking for further Yen purchases and higher gold prices.