Freeze Frame

I could see it was a rough-cut Tuesday
Slow-motion weekdays stare me down
--J Geils Band

Not a bad portrayal by Glenn Beck of what's being done to our currency. To increase credibility and legitimacy, I would have cited the specific data series I was working with, as monetary measures exist. I believe he's using the adjusted monetary base kept by the St Louis Fed.

Central to this situation is the Fed's exploding balance sheet. The current data suggest no end to the money printing trend any time soon.

My memory's prolly failing, but this presentation is the first I can recall where a mainstream media talking head has voiced concerns about the inflationary basis of the Fed and its consequences.

Hopefully it won't be the last.

Perhaps more people are catching on, as gold is back on the move. It's trading at $925 this am, and approaching an important level technically.

position in gold