If you believe that, I've got a couple of bridges you might be interested in ......
His talking up will probably still work a bit longer, but sooner rather than later the twin deficits, mounting foreclosures on mortgages, falling consumer spending as the MEWs (mortgage equity withdrawals) dry up and a host of other catastrophies will soon show the emporer to have no clothes. THEN we shall see the SM's go down. Whether the fiat printing will succeed in staving off a deflation, which will be good for gold, or whether there is a Knodratieff winter deflationary collapse, which may not be good for gold, is the big question.
