Dollar Dandruff

In violent times
You shouldn't have to sell your soul
In black and white
They really, really ought to know
--Tears for Fears

Yesterday's FOMC announcement can easily be construed as a statement by the Fed that it will manufacture significant inflation--whatever it takes.

Stated another way, the Fed is committed to devaluing the dollar, whatever it takes.

Markets in their forward looking wisdom, have been figuring this out for months. That's one ominous head and shoulders pattern setting up in the dollar index.

Meanwhile, gold and silver are marking all time highs...

positions in gold, silver