Don’t know that it is, but I do know recent history and behavior that suggest this won’t be bad in the very near term for US markets or currency. Beyond flight to safety effects, it’s not good. Likely a small window of opportunity. If you’re talking about Australian dollars that’s one thing, if you’re talking about gold it’s another. This could drive gold down in the very near term. Long term, there appears to be no end to instability in sight, which historically favors precious metals, but they’ve had quite a run, so I don’t know about that.
Au= gold. Agree, it will go down a little in the short run if the pattern is somewhat like 2008. Then, they flew out of stocks into USD/ treasuries. But the euros might park into gold somewhat more than USD than the
last time.
But as for markets, as in ‘08 the USD could be relatively strong but markets all around weak. Hussein could face the triple threat of market crash, recession and unemployment spike.