Wednesday, Jan 23, 2008
What the US rate cuts mean for gold
MoneyWeek: What the US rate cuts mean for gold
The Fed showed yet again yesterday that it is prepared to sacrifice the dollar and inflate its way out of the current mess. That means gold should now resume its flight towards $1000.
Posted by mary @ 05:15 PM (571 views) Add Comment
3 Comments
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1. little professor said...
Could you do a better job?
Really?
http://www.frbsf.org/education/activities/chairman/
2. inbreda said...
I would have if the option to increasingly massage the inflation figures was there - not fair!
3. Mr Le N said...
This is very funny:
the eyes of traders everywhere were bleeding. So much so that there was huge pressure on the US authorities to do something about it. Fifty minutes before market opening the Ben and Hank Show came on air and we got the cut the bleeding eyes of the traders were craving. “Knackers to inflation” was the inference.
US Treasury yields were low enough to allow the Fed could get away with this unprecedented move – and it was the move everybody wanted. Make no mistake about it, we were looking down the barrel of a major, major crash. I had fellow traders phoning me up going, ‘This is it. This is the big one.’ One said his strategy for the day was to lie on his office floor in the foetal position, twitch violently and foam at the mouth.