A Day of Reflection

Two years ago, The Fed announced QE∞. Over the course of the next 24 months, they've printed over $1.6T in new currency in order to monetize the debt and support the TBTF banks. The price of gold back then was near $1800. All of us thought that gold was a cinch to rally to new highs. Instead, here we are, down nearly $600. How could we I have gotten it so wrong?

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