federal election

At the start of February, a shocking poll revealed that Germany's Social Democrat, or SPD, party - under the new leadership of former Europarliament head Martin Schulz - had managed to overtake Angela Merkel's dominant CDU ahead of Germany's federal elections in the fall of 2017.  However, just three months later, "Schulz' fairytale turned into a nightmare for Germany’s SPD" as the party scored its worst ever result in today's election in Germany's most populous state, North Rhine-Westphalia (or NRW).

Moments ago, Theresa May signed the letter to European Council President Donald Truk which will invoke Article 50 and Trigger Brexit.

SUN FRONT PAGE: ‘Dover & out' #skypapers pic.twitter.com/0YtSKWlCPj

— Sky News (@SkyNews) March 28, 2017

What happens next? 

Here is a summary of next steps courtesy of Jack Davies, consultant editor of Trading Floor, courtesy of Saxo Group

Following last night's embarrassing and widely mocked 'leak' of Trump's 2005 tax return by "Fake News" MSNBC, which seemingly only served to prove that Trump made a lot of money and paid a lot of taxes, long-time Hillary ally David Brock has offered a $5 million reward for anyone who can deliver his "complete, legally obtained tax returns."

"More questions than answers tonight. I'm offering a $5m reward to anyone with Trump's complete, legally obtained tax returns."

FIAT Drainage Has Begun

Vince Lanci for MarketSlant.com

Gold will meet head winds as the world continues to hedge most of its  uncertainty with flights to the USD. Unless that uncertainty abates, it must in the end spread all the way to the US. This will happen regardless of what you think of Trump's policies. Trump may accelerate or slow the inevitable. But Government can only slow or speed up market clearing events. They cannot stop them. 

Via Brandon Smith of Alt-Market.com,

It is an unfortunate reality that most people tend to be oblivious to massive sea changes in geopolitics and economics. You would think that these events would catch the immediate attention of everyone as they happen, but usually it is not until they realize that the microcosm of their personal lives is subject to the consequences of the macrocosm that they wake up and take notice.