The problem with trying to kill an idea, whether religious or political, is that the task is impossible. Hitler tried and failed and so also did Stalin. So what possesses the Madrid government to think it can thump the Catalans into submission goodness only knows.
Needless to add, the EU commission sees its authority being drained away by Catalan moves and so instead of bringing Madrid to heel the EU does nothing.
(All this in prospect was brilliantly covered by Victor Hill last week under Catalonia Dreaming (click here to read). If you have not read this please do so. You get the full history not merely post-Franco but pre-Franco as well.)
Of course the effect of all this is that the Euro is coming to be seen for what it is: a sham. As regards the timing of shorts of the Euro I defer to the chairman and certainly not me.
I’m long gold since I foresee (and not for the first time) currency chaos. But it’s costing me right now.
I bought Victoria Oil and Gas (LON:VOG) again last week. Cameroonian politics permitting, this is a snip.
Finally, Enable scooted home in Paris yesterday afternoon. As it happens, the French lost every single one of their six Group 1 races on offer. Something’s going on here and it is not Lady Luck being skittish.