Whoa! This is getting interesting.
Two major central banks are tightening – China and the ECB.
But nobody seems to care. These central banks are warning investors to sell their high-risk investments. Instead, gold hits new records! The dollar is at a 15-month low. And oil moves up to $125 a barrel.
Either investors don’t believe China and the ECB are serious…or they’re counting on the USA to come through again – with more money and more credit.
Speculators may be forgetting that we’re in a Great Correction. On the other hand, maybe it doesn’t matter. If the feds keep pushing enough money into the system long enough, the correction will take a grotesque, unusual and terrible new form – it will end in a hyperinflationary depression!
Gold at $1,470? You ain’t seen nuthin’ yet!
Only we, here at The Daily Reckoning, will appreciate it. It will give us something to watch…something to write about. Something to laugh at. More important, we’ll have yet another opportunity to wag our finger and say: “We told you so…”
And who sees it coming? Just us…and a few other cranks, eccentrics, outcasts and marginalized diehards…
But word is getting out.
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