sedek

Black Gold or Yellow Gold?

" Meanwhile, the value of the US dollar has dropped by 50% in that time period."

Interesting piece, and I do like your realization that politics and the economy, especially in an election year, are linked.

My quibble is with your above. The Dollar has dropped over 70% to gold from it's highs in the late '90's, those glorious days of $24 oil and $250 gold and $2.00 wheat. Deficits, debt, low interest rates, and hyperactive printing presses are the culprits and we are trapped by unfunded liabilities into keeping the Dollar low to repay debt with Monopoly money. We'll have a brief outbreak of stronger Dollar before the election to throw a lifeline to the incumbents, then the Dollar falls again with no predictable bottom.