risk off....gold up, page-36

Skol, what a load of rubbish. I have just been in the states having been in and out for work. Virginia, Florida, California, Michigan and NYC. No lines in Nordstroms, Macys or any other dept store, except when it's one of their 20% off a 50% off sale. That's right, 20% off stuff already marked at half price. If that's your barometer of the macro picture going forward then I think you're in for a surprising few years bud.
I'm betting QE3 is on it's way, and with it inflation and the POG heading north. Obama needs that economy stable for the election and his options are limited. After the election he has to deal with their massive deficit. Fact is the American way of life needs a massive haircut, it's unsustainably reliant on debt.


Well worth a read -

http://www.marketoracle.co.uk/Article34056.html

As for the greenback v gold as a safety play - the case for the greenback is eroding fast.