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P-a-n-i-c...

Even a hardened cynic like me stands in awe of that word.

It must have been that way when an ancient walled city fell to a siege and the marauders terrorized the inhabitants.  Man is indeed his own worst enemy.

GLD trading premarket at 169.  Dead on sign that instead of declining interest due to VIX reduction, instead, this is cash hoarding, which bodes badly for market liquidity.

Man oh man, keep thy powder dry for the long term.  Oh yeah, zero yield on capital, what are 7 billion people going to do?  Rollover and die tomorrow???

NOOOOOOOOOO.

But there will be some screaming meemie buys out there.  Everything that caught a big run off of last year will give those gains as the ASK goes hurtling downward.

Be ready.