The news during the last five days has been sparse as the regular year-end news items filter through the talking heads giving prediction after prediction about what will occur next year. Everything from the break-up of the EU to the closing of the Straits of Hormuz winds its way through the markets. The only significant story is the parking of LARGE AMOUNTS OF EUROS AT THE ECB as the distressed banks of Europe seem to want to place excess reserves with the Draghi Bank rather than buy the sovereign debt of Italy, Spain and the others.