QE is the fed printing money out of thin air and injecting it into the banking system via treasury repurchases or mortgage security purchases. Basically it is like counterfeiting, but on a much larger scale. It will cause inflation and we are already seeing that at the pump and soon will at the grocery store and the department store. This experiment is going to turn out very bad for this country.
Another dollar higher for crude oil and commodity prices are going to become very political. A close above $88 should ignite a major move higher. At that point we can start pointing fingers at speculators and major oil companies rather than the serial money printer at the Fed.
While everyone is fixated on the rise in gold prices and claiming they don't affect them, look at what else is happening in the background:
Cotton hit $1.45 today. That is almost double the price 90 days ago.
Corn is up more than 50% over the last 90 days.
Soybeans are up 30% over the last 90 days
Coffee is up 25% over the last 90 days.
Do you like sugar in your coffee? Sugar up 75% over the last 90 days.
This is going to get very political.
I've got a ton in my VGPMX fund and sitting on good amounts of physical gold and silver!
Wish I could say I was happy about today's gains, but they come at the expense of our worthless American currency.
I'm happy to say that I am somewhat hedged, however.
Basically, you can thank the dumbasses that have been in D.C. for the past 4 years for a lot of this heartache. Mainly the leaders, like Pelosi, Reid, Boehner and McConnell.
I say lets burn this bitch down. Don't raise the debt ceiling, let the country crash, and lets rebuild. Otherwise, we just keep the life support switch in the ON position with the current idiots in power.
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