United States

One day after the biggest jump in stocks in two months on what has still been an undetermined catalyst, overnight global equities did a U-turn with European stocks falling toward a one-month low and U.S. stock index futures declining, as crude oil dropped toward $44 a barrel. A driver the move lower was a sharp reversal in the USDJPY which dropped 100 pips from yesterday's highs which took places just as Goldman predicted the USDJPY has finally bottomed, facilitated by a weaker dollar (also following a Goldman report yesterday forecasting the USD was about to surge).

Iran has accused the United States of theft and is planning to sue after the U.S. Supreme Court ruled that American terror victims should receive $2 billion from frozen Iranian funds. The Islamic Republic has been blamed for terrorist bombings in Lebanon and Saudi Arabia. A 1983 attack on a Marine barracks in Beirut was attributed to Hezbollah, an Iranian affiliate group with popular local support, in revenge for Israeli atrocities in the war. Both Hezbollah and Iran deny the claim.

Back on February 15, just as the USD was about to plunge unleashing a global risk-on rally as a result of "Yuan stability", Goldman triumphantly announcecd its latest trading recommendation: short gold (at $1,205) with a target of $1000 and a 7% stop loss.

Submitted by Rory Hall via SprottMoney.com,

Akin to ancient Rome, the United States has over-extended herself. She has created a climate that could easily be transformed into a war on a slight pretext. Wars, as it is well known are also a means a nation can extricate itself from debt and financial responsibility.

– The U.S. Endgame, Jeremiah Johnson (nom de plume, retired U.S. Special Forces, excerpt from Zero Hedge

Submitted by Simon Black via SovereignMan.com,

By all accounts Bernhard Gubser was living the American Dream.

Born in Switzerland he moved to the Land of the Free in the early 1980s to work at an international shipping company based in Laredo, Texas.

Eventually Mr. Gubser worked his way up to be President of the company and began traveling around the world to expand the business.

He became a naturalized citizen of the United States in the 1990s, something that would eventually cost him $1.35 million.