Very volatie week ends with pollies meeting on Europe...we are saved

A G8 meeting was held overnight where officials took lovely photos and smiled for the cameras. Pronouncements of significance were missing...let's see how the markets react this week. Last week was not good!! Maybe it will take a Dow move of another 1,000 points to get pollies acting.

Barron's had a good piece from Ray Dalio...

http://online.barrons.com/article/SB50001424053111904370004577390023566415282.html#articleTabs_article%3D1

ps - he says keep 10% in gold!

ps2 - markets are oversold this week. One measure I use...share price falls made the weekend news.

ps3 - Soros increase his gold

ps4 - a Japanese fund initiated a gold position...hmmmmmm

Japanese Pension Fund Switches to Gold
By Ben McLannahan
Financial Times, London
Wednesday, May 16, 2012

http://www.ft.com/intl/cms/s/0/1be7a2a2-9f3f-11e1-a255-00144feabdc0.html

TOKYO -- Okayama Metal & Machinery has become the first Japanese pension fund to make public purchases of gold, in a sign of dwindling faith in paper currencies.
Initially, the fund aims to keep about 1.5 per cent of its total assets of Y40 billion ($500 million) in bullion-backed exchange-traded funds, according to chief investment officer Yoshisuke Kiguchi, who said he was diversifying into gold to "escape sovereign risk."

The move into a non-yielding asset comes as funds in the world's second-biggest pension market are under increasing pressure to meet promised payments, as domestic interest rates remain rooted near zero.