LYONS – About a year ago I wrote a two part series for the Redstone Review called The Crumbling Euro. I discussed how the euro, as a currency idea, was falling apart.

In the column I said the following: “Right now the bond market and bond investors hold the key. If they decide to push Italy’s and Spain’s yields to the levels of Ireland or Greece, we’ll see the euro fall dramatically vs. the dollar and safe haven assets such as gold will likely soar. It is also likely that investors seeking safety will flock to U.S. treasuries, pushing their yields down, at least for a while.”

BOULDER – The powerful earthquake that occurred off the coast of Japan this past March caused a massive tsunami that wreaked havoc on the island. Damage estimates are over $300 billion (6 percent of overall GDP) and the number of dead is at least 15,000 people.