Gold Is Soaring…

The Fed just went full retard (even fuller retard than it had gone two weeks ago) and along with its promise to buy pretty much anything and make all collateral money-good, it has eased an apparent resurgence in dollar liquidity stresses.

The FRA-OIS spread had been blowing out, signaling dollar tightness… well that’s eased now…

And the dollar is losing ground fast…

And as the extreme policies of The Fed ripple through markets, so gold is soaring, reflecting the abuse of fiat that is occurring in real time…

And the paper-physical gold markets are decoupling once again…

As Egon von Greyerz recently reminded,  remember you are not holding gold to measure the gains in debased paper money. Instead you are holding physical gold as insurance against a broken financial system that is unlikely to be repaired for a very long time.