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October 13, 2011 / Hal (GT)

Inflation is back in the news.

So, is it deflation or inflation that we are going to have to deal with? Or both at the same time? Or a propaganda campaign to confuse the heck out of us as we sidle up to the check out line in the grocery store and pay more for bread and milk?

It’s amazing to me how little one can buy for twenty dollars at the grocery store today. I found this cool website named The Inflation Calculator. For giggles I put in 1961, for fifty years ago. Back then if we were to purchase something for $20, it would cost us today, based on inflation, $151.54. Of course one could argue something like, “They didn’t have iPads back then, and look how cheap those are today.” But the fact remains, you can’t eat an iPad.

A quick look at ExactPrice tells me that Asian buying into London over night of gold was pretty much a slow down hill exercise. Something I expected going into Thursday. Of course I find it interesting that the real selling didn’t happen till Comex opened today. No surprise. Now that Open Trading on the Comex is over the price has spiked up to $1,666.00 in electronic trading so once again a bit of a normal play. Silver is down a dollar. So the range bound nature is still here. Or what I think of as a floor being built.

Platinum still remains well below gold at $1,538.00.

Onto the links I’ve got for you.

How Fascism Kills the American Dream <- This is a good read. By Lew Rockwell.

J.P. Morgan’s bet against J.P. Morgan – Commentary: Sounds crazy, but it worked <- I believe this is called “Stacking the deck.”

Work In Banking? Find Out If You Will Be Laid Off… And If You Work At Bank Of America, Click Here Now <- HT to James Workman @JWnFL

Will Hyperinflation Follow Inflation, or Will Deflation Win Out? <- Good blog post.

7 Major Advance Warnings <- Bank failures coming. Greece Default. Etc, Etc.

John Hathaway – We’re Definitely in the End Game for US Dollar <- seems like that’s were we’ve been for a while now.

LISTEN: Peter Grandich talks with Chris Waltzek <- Grandich is worth listening to in my opinion.

Gold Bulls Pressing against the Bears’ Line of Defense <- Analysis from Trader Dan.

Richard Russell – CB’s Buying Here, Swapping Dollars For Gold <- Good read on King World News.

Fed leaves door open on QE3 <- Yeppers.

Dubai Gold Buyers Switching From Jewelry To Bullion <- Ahemm.

Deflating Inflation <- Looks like TF Metals had the same feeling I’ve been having.

Iran Accuses America Of Purposefully Sending The Price Of Gold… Higher <- Now this is funny.

Gold is not in a Bubble: It’s on its way to $10,000 an ounce

Price of gold is expected to average USD 1,770 per ounce in the fourth quarter <- News in the China Business News.

Gold’s Schizophrenia: Pulled Apart By Commodity And Safe Haven Status <- On Forbes

Well, I think that’s enough for today. Gold now is at $1,668.10 so not much of a change sense I started this post. Keep an eye on action over night.




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