Forty-five years later, in the middle of the night of May 7-8, 2012, Prime Minister Benjamin Netanyahu shocked his country by bringing the main opposition party, Kadima, into a national unity government. Shocking because just hours earlier, the Knesset was expediting a bill to call early elections in September.

Why did the high-flying Netanyahu call off elections he was sure to win?

Because for Israelis today, it is May '67. The dread is not quite as acute: The mood is not despair, just foreboding. Time is running out, but not quite as fast. War is not four days away, but it looms. Israelis today face the greatest threat to their existence - nuclear weapons in the hands of apocalyptic mullahs publicly pledged to Israel's annihilation - since May '67. The world is again telling Israelis to do nothing as it looks for a way out. But if such a way is not found - as in '67 - Israelis know that they will once again have to defend themselves, by themselves.

Such a fateful decision demands a national consensus. By creating the largest coalition in nearly three decades, Netanyahu is establishing the political premise for a preemptive strike, should it come to that. The new government commands an astonishing 94 Knesset seats out of 120, described by one Israeli columnist as a "hundred tons of solid concrete."

David Fuller's view This is conjecture but probably informed because Charles Krauthammer is an exceptionally analytical observer of the geopolitical scene, therefore I take his conclusion seriously. I also maintain that Israel is unlikely to take any significant unilateral action against Iran this side of November's US Presidential Election.

Gold would be an obvious hedge in anticipation of any significant military strike against Iran.