Clipped this from RR's commentary this morning...Pretty...

Clipped this from RR's commentary this morning...Pretty significant in the light of recent comments by US central bankers...


Dear Richard,

I can't believe you missed it, but was surprised you didn't note it in your daily letter.

M3 in the week ending Nov 18 up 95.7 billion?

I bought another 100 gold coins on the strength of that news alone. Maple Leafs this time. I am beginning to wonder if I might not be forced to spend my declining years in Canada.

Dan M.

Russell comment -- I looked for it and did miss it last week. Or maybe they hid it. $95.7 billion! Is that a mistake? I can't believe what the Fed is doing. They're not just worried about deflation, they must be utterly terrified. That one week's expansion in the money supply could buy the entire gold industry, lock stock and barrel.