Print for inflation Abe said. No problem Abe said.
Texas wants its gold back from the New York Federal Reserve Bank. Now they are about to abolish the sales tax on gold and silver. The state still has huge amounts of oil. It has a thriving high tech sector and plenty of open space. The climate is generally good, though a bit hot in the summer. Ron Paul lives there. Overall Texas has got a lot of things going for it and if it’s an early (re)adopter of sound money* it will only make the Lone Star State that much more attractive.
Why would anyone live in New Jersey?
What can I say? The guy is right. He’s right almost all of the time, and on this point he is especially right.
Could the gold cascade of recent weeks be the result of a massive move by one player?
Are the central banks turning off the spigot? Gartman thinks they are and that is what he thinks is generally pushing down the price of gold. Why the precipitous drop over the last 24 hours? He thinks that Cyprus having to sell off reserves has something to do with it. But no one’s exactly sure.
Things are weird again. We’ll see how long this blip lasts.
To the degree that they can, a few US states are seeking to shore up their finances. Specifically they are moving to make gold and silver legal tender (again). Texas is actually trying to “repatriate” its gold from the New York Federal Reserve. (We’ll see how that goes.)
About sums it up.
We are seeing a slow motion run on the Federal Reserve. Around the world faith in the dollar is on the wain and sovereign governments are becoming more concerned with the whereabouts of their ultimate store of wealth, gold.