Price of Gold = Government B.S. Meter
You can’t go a day without reading in the news about a U.S. government official such as Fed Chairman Ben Bernanke or Treasury Secretary Tim Geitner talking about their support of a strong dollar. Do they mean it? Or are they full of crap? I definitely have an opinion but thankfully, you don’t have to listen to what I think. You can just check the B.S. meter known as the price of gold.
What has the reaction been regarding these recent strong dollar comments… that’s right… higher gold prices. I think the market is calling B.S.
I have yet to find a pathway out of this current mess that does not lead to serious inflation and serious devaluing of the dollar. Our official’s words are meaningless. Actions are what matters. The market is calling B.S. by bidding gold higher and higher.