Gold: $1,507.70 per ounce Troy - Trend: Up
Silver: $46.68 per ounce Troy - Trend: Up
Oil: $112.29 per barrel - Trend: Up
$1US = .95¢Canadian - Trend: Down
That whooshing sound you hear is the dollar circling the bowel.
Seriously. It’s not that the commodities are getting more expensive. Gold is gold. It always has been and always will be. What we are seeing is the erosion of the buying power of the dollar as a direct result of the Federal Reserve Bank’s (which is neither Federal nor does it have any reserves) policy of running the printing presses 24/7 and flooding the market with worthless paper.
Would the prices charged for Tickle Me Elmo have been anywhere near as high a few years ago if you could just walk into any store and find hundreds of them? Of course not!
Supply and demand.
The supply of Federal Reserve Notes, that’s US paper currency, has reached market saturation. As a result, its perceived value has gone down. It has to. We the People don’t want it to, but apparently the President and the head of the Federal Reserve do as evidenced by their policies.
It’s not about saving the country from a recession. It’s about ending the dollar’s status as the reserve currency of the world.
Sources:
Kitco Precious Metals
CNN/Money’s ticker
Yahoo! Finance USD/CAD
When you go to the currency pairs link at Yahoo! Finance it will put you on the day trader chart. Below the chart is a navigation panel with links to the charts for 1 day, 5 days, 1 month, etc. [1D][5D][1M]… Click the link for Max. The long term trend will astound you.
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