It seems the Iran crisis has now taken over second position as the longest running headline, just behind the Greek crisis. With the Greek crisis potentially - I say potentially - kicked down the road to implode another day, the Iran crisis could soon take over first place as the longest running headline in post 2008 crisis history.
More rhetoric has been passed from Iran to the world than spaghetti at an Italian wedding. All the while, they move closer and closer to having atomic weapons. The closer Iran gets the more rhetoric and the more rhetoric the more sanctions then more rhetoric and so on. It's like playing chess with yourself. You can't win, you can't lose and then finally the dog knocks the board off the table and game over.
Few would disagree that everyday we move closer and closer to game over. Scientists are being assassinated, diplomats bombed, threats made, warning shots fired and now reports that Iran has enough enriched uranium to make two atomic bombs.
While reports suggest there is still hope for a diplomatic solution and Iran holds to the claim they intend to use enriched uranium to fuel nuclear energy facilities, I call it all bunk. If Iran really was going to use the fuel for nuclear energy, wouldn't you already have built the reactor and the facility and the infrastructure to integrate the new power source into the grid? Why enrich the fuel with no place to put it once done? Surely, if such a facility existed all that need be done is to show the world and prove your intentions. But ... that hasn't happened so no facility ... no good intentions!
Now that we have that settled, it's clear Iran is not going to stop their work and they've already told the world what they think about the U.S. and Israel. I believe conflict is inevitable and concurring signs have begun to appear in the markets. Oil prices are rising in fear of supply disruptions, gold prices are rising with rumors that Iran is now accepting gold as payment for oil and the dollar is down 3% from its January high despite Europe's debt troubles. And as hard as the media tries to convince us the Dow has smashed through the 13,000 level on its way to 15,000, that move has stalled.
The warning signs are there - $5 gas by summer, The world markets know what's ahead. Another war is being baked into the cake. Throw another war into the mix of skyrocketing deficits and soaring debt and we have our own nuclear economic explosion in the making. An explosion of gold prices. How will you protect your wealth when the purchasing power of our dollar is further destroyed by rising war debt? Is it really inevitable? I give it a 99% chance that military action against Iran will take place.
Now is the time for gold.