There is nothing like a vacation to get some r&r, spend some time with loved ones, reflect on the past and think about the future. With gold now above $1000 again, about the same level of the S&P’s, the $ index just 8% from record lows and 4 more years of B52 Ben, lets reflect. Since Jan 1998, while the nominal price of the S&P 500 is flat, in gold terms (real money) it is down 70% as gold as risen from $300 and now the S&P’s buy only 1 ounce of gold, down from 3.3 in Jan ’98. Since ’98, we had the LTCM bailout which raised moral hazard to another level and a period of easy money followed from the Fed. We all know what followed so are we better off with the monetary policy regime of the past 10 years that is continuing? With Ben in place for another 4 years what does it say about the future? As I’ve been saying since $350, buy gold and other hard assets.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.