06
Oct
2009
Gold Sets Record High; EPJ Explains Plot Against Dollar
Gold hit a record high today, trading at $1,040.15 / ounce. I’m not being a wiseguy; has Mish or another prominent deflationist explained this?
If you want to read up on the international conspiracy against the greenback, EPJ has the latest. Is that the out that Mish et al. will take? “Yes, the dollar should have appreciated 10% annually for three years in a row, while the credit overhang was worked off. But the Saudis and Russians were idiots and dropped the dollar, fearing inflation, and thus set in motion a self-fulfilling prophecy.” ?
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