Wednesday, September 22, 2010

Gold Reaches New Record High on Fed's Money Printing Vow

Another day, another record high for gold on the Fed's note yesterday that they will keep printing money. Please click to enlarge gold chart since 2002:

For the first time, the Fed admitted that slowing inflation and sluggish growth may need more action "positioning it for expanding a near-record $2.3 trillion balance sheet as soon as November". Bloomberg
Can the Fed inflate its way out of this mess, and more importantly, can it ever bring it back on track? Minds are doubtful.

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