Thursday, September 6, 2012

Gold crosses $1700 per ounce as Draghi decides printing money is sound policy

On Sept. 5, ECB Chairman Mario Draghi decided that the days of rumors were done, and printing money was now in vogue.  In a speech where he descended upon Europe with the printing presses ablaze, gold responded in kind by crossing the $1700 per ounce barrier for the first time since March.


Picture courtesy of socioecohistory.blogspot.com

Earlier we noted Gold's seeming clairvoyance with regard the expansion of the Fed and ECB balance sheets over the last few years. It seems the EUR strength overnight (or stop-run) has provided just enough USD weakness impetus to nudge spot Gold (not futures) back over $1700 for the first time since March 13th. - Zerohedge


Chart courtesy of Zerohedge

Remember, remember the 5th of September, the central bank treason and plot.  I see no reason why the central bank treason should ever be forgot.

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