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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Wade who wrote (45653)7/13/2013 12:00:25 PM
From: Wade1 Recommendation

Recommended By
Tommaso

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"Yet so far during QE3, gold has plunged 27.8% despite the Fed's balance sheet already surging 22.8%! This doesn't make any sense at all. The Fed has added $639b of new dollars to the system that had never existed before September 2012, yet gold has lost over a quarter of its market value. And it's not like gold was overbought when QE3 was born, it had just spent 13 months in a healthy high consolidation.

Wall Street, which has always hated gold, argues that the reason gold has plunged is because QE3 is not inflationary. That is nonsense, monetizing debt always is by definition. Gold has fallen because stock markets surging to new cyclical-bull highs sucked capital and interest away from classic alternative investments like the yellow metal, and hyper-leveraged futures traders got caught on the wrong side."
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