Huh Reeeally

An often-perceived analysis in the gold community is that gold is the constant in our global economy. But is this true? Yes and no. Allow me to share my observations. Although gold has an exceptionally constant nature, and we have yet to see another currency that can compete with gold’s constant nature, the reality is, that there is no exact constant in economics. In any market all goods, assets, currencies, etc.

Moments ago, JPM - the biggest US bank by assets - became the first bank to report second quarter earnings, which beat expectations with Adjusted EPS of $1.46 (reported EPS of $1.55) on $25.2 billion in non-GAAP revenue ($24.4 billion in reported revenue), which was $1.1 billion higher than in Q1 and $0.7 billion more than a year ago. Wall Street was expecting $1.43 and $24.42 billion in EPS and revenue respectively (although a meet if one uses the actual reported top-line number).

Last Thursday, when we reported that Ben Bernanke was to "secretly" meet with Kuroda and Abe this week (he is said to have already met with Japan's central bank head earlier today), we said that "something big was coming" out of Japan which had "helicopter money" on the agenda.