What's Bernanke doing for the dollar - or to the dollar? By creating multi-millions of additional dollars, the Bernanke Fed has knocked the dollar down. But due to weakness in other major currencies, the dollar (which is now oversold) has rallied over the last day or so.
But overall, the forces of world deflation continue. As much as it is needed, below we see oil being crushed by deflationary pressures.
Bernanke insists that his "QE3 to infinity" is not bringing in inflation. In proof, the Fed uses its ridiculous inflation measure which leaves out the rising costs of food and energy.
But what Bernanke doesn't talk about is inflation in commodities and tangibles. Meanwhile, the price of art, medicine, college tuition and food is going through the roof. In fact, we are seeing bubbles in a great many areas.
The yield on the Dow is 2.56%, far below the classic danger level which ... Log in or subscribe to continue reading.
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