The gold price
An Ugly Development in the Eurozone Crisis - 8 September 2011
Two charts that show the debt disease is spreading...
BACK IN December 2010 German banking powerhouse Deutsche Bank had just broken down to a 52-week low, writes Brian Hunt in Steve Sjuggerud's Daily Wealth.
The weakness of this stock was much more disturbing than any weakness in Irish or Greek banking shares. After all, Germany is the "engine" of Europe. It is the continent's most important and most stable economy. And DB is Germany's largest bank.
Now we have a sign that the "debt disease" at the fringes of Europe has spread, and is starting to infect the whole body:
DB has plunged 39% in just the past five weeks. Shares are at their lowest level since early 2009. The Euro Crisis has arrived... and it is laying low the strongest member.
The latest round of the European crisis has also taken the Euro down another notch in value. The currency just struck an all-time low against gold:
The European debt disease has spread from troubled "outer" states to the strong core. This is an ugly development.
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