Thursday, October 13, 2011
Rosie Still Likes Gold (To Reiterate)
The scuttlebutt is that after a read of the FOMC minutes, the Fed intends to link more balance sheet expansion to economic metrics. The Bank of Japan announced today that more policy easing is on the way. The Bank of England is already there for another round of QE. The ECB has been doing its own version and more money printing is surely on the way there too. There is little doubt in our mind that the asset worth owning, especially after the late-summer correction, is gold, as central banks move once again towards reflationary currency-debasement strategies.