Gold prices fall below $900 an ounce

money.cnn.com

5 points·gongfudoi··9 comments

Why is the dollar going up? I can understand that the Fed's actions are good for Wall Street. Is it going to take a while for the rampant printing of money to catch up?

Simple: every other major currency block is also pursuing a highly inflationary policy. For instance, the Chinese central bank prints money to buy US bonds. It does this to keep its own exports strong. This is a terrible way for China to maximize its standard of living. But that's not the goal. The goal of the Chinese government is to maintain strong employment and prevent a second coming of the Taiping rebellion. If that means subsidizing Joe Sixpack's HDTV, then so be it.

Simple: every other major currency block is also pursuing a highly inflationary policy.

Hmm, I don't know, in the Eurozone inflation is high (~3.4%) at the moment, but it doesn't seem to be policy as much as they've been unable to prevent it. Target inflation for the ECB continues to be 2%.

Sweet. I dunno why this is titled so pessimistically...the dollar is finally rallying.

And here I was thinking this was an april fools joke :)

Total hacker news!

A lot of people here are interested in general business and the markets.

Price movements aren't that interesting though, IMO. I might vote for some kind of in-depth analysis type of article, of the kind you might find in The Economist or FT, but this sort of "look, a round number!" thing is boring.

And a round number in base 10 at that. Now when gold falls through an interesting binary number feel free to post.

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