Gold price, page-9556

I think we, goldbugs, have a problem. Economy has really improved and rates are going to keep going up, exacerbated by short squeeze in bonds, so a lot of capital will be leaving bonds, pushing % up, and moving somewhere - probably in real business, increasing inflation, and stocks

Yellen said today:

ON A HIGH-PRESSURE ECONOMY
I never said that I favour running a high-pressure economy. As you can see in the SEP projections of the participants, and this has long been true not just in this forecast but in earlier ones as well, you see a modest undershoot, the unemployment rate is projected to modestly undershoot for several years levels that are deemed to be normal in the longer run. But I do want to make clear that I have not recommended running a hot economy as some sort of experiment.
ON FED NOT BEHIND THE CURVE
We are not seeing evidence in labour markets of very substantial upward pressures on labour that could signify extreme shortages of labour that could propel inflation higher in a very rapid way, and inflation is still operating below our objective. So I do not judge that we are behind the curve. My judgment is that we are in a good path to reaching our objectives. But of course, the outlook is uncertain.


But RBA has got no clue - what a stupid people here in Oz!

Households have too much debt and the RBA might have to cut interest rates up to three times to ward off a dramatic de-leveraging event in the economy

How can they cut it while AUD is 0.74? It will go 0.10 and a pair of socks will cost $10 instead of $1 - it is called inflation ! they will have to RAISE, baby RAISE, let the mortgagists loose all!