Yen Carry Trade Massively Unwinds As Investors Trade Out Of Stocks For Commodities

The age of 'financial disinvestment and instability', and the age of 'state corporate rule' is rising.

Of note: the USA Today in article Black Currency writes that the record oil prices are also a "no-confidence vote in the U.S. economy and currency." Take the dollar. If it hadn't weakened 45 percent against the euro this decade, oil would be at $100 a barrel. Investors are turning to oil as a sort of bet that the U.S. won't "face up to its problems," namely a "destructive borrow-and-spend habit" afflicting consumer and government alike. In that way, oil is now "a kind of alternative currency," like gold.