Greetings!, "You can knock on a dead man's door forever." - Nikos Kazantzakis from Zorba the Greek Apparently there is no grasping the Greek mentality. The whole financial world is knocking at its door and they don't hear. The floundering country voted by a meager 3% to stay in the euro, but now Antonis Samaras, leader of the center right party, has to form a parliamentary majority by reaching out to other political factions in order to execute that slim plurality's wish. Can it be done? A Mediterranean shrug that says "Who knows?" is in order. Greece is running out of money, running out of options, and the world financial community, led by Europe's stronger economies and the United States, is running out of patience. The uncertainty provoked gold to flip flop a little today, but for our purposes things worked out all right. This was in spite of some consolidation just below the $1630 range. At this writing, gold is up $2.00, about one tenth of a percent. Silver seems paralyzed by the world economic news, finishing unchanged. Silver's performance may be perfectly indicative of the flatness of industrial demand. France seems the polar opposite of Greece. Over the weekend the French voted to complete the installation of the left-leaning parties in their parliament. They will see to it that some measure of reflationary policy goes into effect. The French electorate believes the European economy overall, and this includes Great Britain, is simply too fragile to keep cutting budgets. Perhaps France will take the lead away from Germany on this specific fiscal matter. Regardless of where one stands on the potential effectiveness of such a policy, at least France will settle on some kind of policy relatively rapidly. This leaves us waiting for the FOMC on Thursday. Even a little movement from the Fed will push precious prices up, although if they stand pat, gold could take a dive upon such fundamental news. As always, wishing you good trading Executive Producer | 
