Friday, March 14, 2008
Ben Bernanke and His Magic Helicopter
Ben is at it again. Increase the money supply, and everybody happy. The Prexy's $300.00 tax rebate stimulus package thingie is such a tragic little effort, like urinating on a California wildfire. So the US$ is plummeting on the world market, and the cursed Euro is winning.
Maybe the Amero will fare better. Oh, yeah, it doesn't exist, and there are NO plans for it. Right.
Facts remain, and one damning truth is that a barrel of oil can be had for the same amount of gold as it could 20+ years ago. Real commodities relate to one another. Gold has broken the $1K per ounce mark, but gold is really no more valuable than it ever has been. The dollar has shrunk in comparison to the stability of gold. The Full Faith and Credit of the United States. It is to laugh.
Maybe Bernanke is a closet gold bug, driving up the relative value of his hoard.