Yeah, we are supposed to believe that there is a sustainable economic recovery in progress right now. And yet... there is a need to print up £50,000,000 new pounds and put them in circulation.
Anyone else smell a rat here? If things were so dandy, they should be removing new cash they printed up with gay abandon the last few months, not create even more. If there really is a recovery under way, this cash is going to light a fire under inflation figures in due course.
No wonder gold just went back above $920/oz, and silver vaulted through $14/oz. I wonder what'll happen when NYMEX open in half an hour or so, and Chicago opens the pit doors an hour later. We'll see... Silver is definitely leading, which is reassuring (if you are a gold bug).
Thursday, 7 May 2009
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