18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,556 Blog Posts

Chicken or the Egg?

Is the weakening dollar causing gold to trade higher, or something more important? Is the inflation data, coupled with the specter of interest rate cuts and a stronger economy the lynchpin to all this shit? I’d argue until blue in the face the FX markets do not swing the price of gold; but at this point — what difference does it make?

It’s all part of the same puzzle — the game parlayed between friends and enemies that drives the prices of things we like and hate up and down. Gold has been flat for 7 years and now you think the dollar is affecting it?

Are you retarded?

The important part in all of this is gold is trading higher, the most undervalued and hated asset class in all the world. If you like gold, you’re denigrated in the public square as an insect — less than a human, and ridiculed for being a foolish investor.

Only wise investors buy dollar denominated stocks.

At any rate, I have a few gold positions on my books, equalling 10% of my holdings. I will like very much holding them and watching them during the morning session.


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