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Archives for October 2010

U.S. Elections, Economic-Policy Prospects, and the Price of Gold

America's Congress is up for grabs in just a few days -- and world financial markets have a serious case of the jitters. No one knows for sure what the make-up of the U.S. House of Representatives and the U.S. Senate will be next year . . . but it's hard to imagine we won't be faced with more gridlock and more acrimony on Capitol Hill -- in short, a dysfunctional government that is incapable of dealing effectively with America's serious economic problems. With the liberal Obama Administration and a more conservative Congress at loggerheads, it is likely that America's central bank will, by ...

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Monetary Policy, Competitive Devaluation, Inflation Targeting . . . and the Future Price of Gold

Suddenly, our long-standing forecast of $1500 gold -- possibly by the end of this year -- doesn't seem so far-fetched . . . and, one by one, many economists, analysts, and investors are ratcheting up their price targets to keep pace with the market. The U.S. dollar price of gold is now up more than 20 percent this year and looks certain to score its tenth consecutive annual increase in a decade.  By comparison, U.S. equities, measured by the Dow Jones Industrial Average or the S&P 500, are up a meager four-to-five percent year to date. No Bubble Here Notably, the yellow metal's recent ...

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