I don’t know what is less surprising, the fact that the world has not come to an end

I don’t know what is less surprising, the fact that the world has not come to an end or that John Boehner’s “Plan B” didn’t make it to his own party’s approval process. The long liquidation that has permeated the market as of late seems to have been tempered for the time being…at least in gold and silver. Platinum and palladium remain under pressure. Where there was once growing hope of a fiscal cliff solution there is now an aura of uncertainty hanging in the air. Will this uncertainty be enough to keep the longs from continuing to square up the books ahead of the year end and choppy trading conditions that lay ahead? That remains to be seen. However, with the likelihood of the country going off the deep end of the cliff continuing to grow it could make sense to park assets in the precious complex to protect against the longer and more drawn-out apocalypse that awaits us in 2013. Late last night it was reported that the House Speaker was unable to garner enough republican support for “Plan B”, the plan to extend Bush era tax cuts for everyone except those making more than $1 million a year. Our fearless leaders have decided to reconvene after the holiday…apparently economic collapse is not as important as turkey and stuffing. Have a great weekend!