The US skated by yesterday , this according to JSMineset: Looks athough the battle between currencies and metals is not done, not by a long shot.
The second longer dated Treasury auction today squeaked by so gold took some late selling by the COMEX Comics.
That is good news for gold because there is no chance that the trillion the Fed has set aside to buy US Treasuries has the capacity to offset the lack of foreign buying.
Markets are not pure math calculated on a picture in time.
The fall off of non-US buying of US Treasury instruments is a multiple of the recent $50 billion shortfall.
The Fed better be prepared to self-finance the Treasury because my dear CIGAs, a trillion isn’t what is used to be.
The new extreme "Flailing In The Breeze" plan today took the shape of the US Fed plan to issue their own debt when things get better.
When will people understand that a problem caused by debt and fancy finance cannot be cured by debt and fancy finance. Who is going to act as the Oracle of Washington to declare to the Fed that thing are better now and they can go float debt against expanded and deteriorating balance sheets? This one is an insult to any intelligent person.
