Wednesday, February 29, 2012
Monetary Base Reached All Time High Last Week
Gold is down $70 today supposedly because Bernanke didn't signal a desire for more QE in front of congress this morning. Despite the fact that there isn't technically new QE going on at the moment, the monetary base did reach a new all time high last week, as shown below.
Also, the Fed's printing presses may not be running full steam at the moment, but the ECB's certainly are, printing 500B euro just last night...
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