Sorry, couldn't help myself. It's just so much fun bashing these dumb hedgies.
Remember about a week ago when Bass was out pounding the table at the Salt Investment Conference about how all the "money printing" blah, blah, blah, by central banks was going to make gold skyrocket? We discussed it here. Gold's down about $100 since then.
LOL!!!
Once again, central banks cannot priont money. They simply can't. They can make loans and/or manipulate interest rates. Quantitative Easing is nothing more than an asset swap--one dollar/yen/euro asset taken away, one dollar/yen/euro asset given. Equal amount. No net new financial assets created. Governments can "print money," but they're all in "un-printing" mode...austerity.
Another clueless boy playing with some big money, which won't be big money for much longer.
