Bank holiday coming soon

Is a bank holiday coming soon ? Circulating around the internet are news that a FDR bank holiday is approaching.

Abstract from marketwatch.com

In its current issue, HSL reports rumors that "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days."

HSL's suspicion: "Another FDR-style 'bank holiday' of indefinite length, perhaps soon, to let the insiders sort out the bank mess, which (despite their rosy propaganda campaign) is getting more out of their control every day. Insiders want to impose new bank rules. Widespread nationalization could result, already underway. It could also lead to a formal U.S. dollar devaluation, as FDR did by revaluing gold (and then confiscating it)."

The Amero - is it real ?

The alleged replacement of the US dollar, Canadian loonie and Mexican Peso with Amero raises eyebrows. Just like Euro which is the common currency of the European Union, the Amero has been rumoured to be the currency for North American Union, consisting of United States, Mexico and Canada. This is supposedly the agenda to be one step closer to UN dreams of a one world government.

The amero coins and bills has already been printed, though its announced to be more of a collective nature rather than real currency.
Try googling up amero, and you'll find plenty of news on it.

I've been thinking about the US debt. Their debt is probably going parabolic, the government is not a bunch of stupid people. They know what they are doing. The huge and perhaps, unrecoverable debt makes the dollar worthless. If, assuming the rumours are real, and that the powers will be creating a new currency to replace the greenback, then it makes sense to chalk up a mountain of debt. Since you're not going to repay your debts in dollar anyway. So you spend and spend, buy and buy...

I've no idea if its true. Time will tell.

Asia (China ?) has been agressively buying Gold & Silver. Both these precious metals have finally broken out and up of its diagonal triangle, so this means the short term direction is up, targetting a Gold target of above $1000. As for Silver, its still below its all time high of $21, lets hope it can reach that level soon.

As stated in my previous posts, will Gold & Silver follow the deflationary trend in equities ? My guess is no at this point of time, because I suspect the upcoming tsunami will be triggered off by public's confidence in our very existing monetary and fiat currency system. The currency storm.

The bear may have begun

SPX may have topped at 1039, close to the pivot 1041.

It is now trading at 1000, lets watch if it can maintain support at 990 level. If it doesnt and the wave looks strong and impulsive, this increases the possibility that the bear has resumed.

VIX on the other hand, has maintained a bullish momentum and broken out of its descending wedge. This is very bullish, especially with a positive divergence and RSI. Of important interest, is that the divergence has been forming since October. Its been building a 1 year base. And because of this, I have been mainting a bearish outlook on the markets and do not believe in the recovery story painted by the media.

As noted by Atilla in his blog, some giant options player has betted on a bloody November. Call options at VIX 40 is being bought. This means some very very huge player is betting a volatile market then.

China is now back in a bear market status. The other markets should start to peak and roll over.