Friday, August 5, 2011

Market back to where QE2 started

Today, the S&P 500 made a round trip back to where it was when QE2 was officially announced in November.  So much for printing our way to prosperity...

Over the same timeframe, Gold has done this:

As a result, the S&P 500 priced in gold ounces is extremely close to the March '09 lows.  The S&P 500 costs just 0.73 oz of Gold.  What a steal!

Can I interest anyone in a QE3?

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