By Richard Russell
Despite heartwarming stories about the economy issued by the Government and the Fed, the Dow appears to be unwilling to close above 18,000. If the Dow cannot do this soon, it will probably sink to the next biggest number which is 17,000. As for gold, it holds steadily above 1200. A technical achievement would be for gold to close substantially above 1300.
With Europe about to take part in quantitative easing, more fiat money will be created. Some observers are predicting hyperinflation. Already we see signs of hyperinflation in the price of New York real estate. We also see it in the prices of jewelry and art.
The darling of the investment world has been the US dollar. The dollar is as loved as the gold miners are hated. The frenzy with which the dollar is being bought is frightening. The fury with which gold is being sold bespeaks of the formation of a ... Log in or subscribe to continue reading.