k612

ECB Calls Bernanke's Bluff

Great article.

Perhaps answers a question of mine. Gold "decoupled" from oil in the April time frame. I was curious as to why oil had gone wild and gold was flat. Now I know the probable cause; the ECB can and has moved to cap the price of gold but oil remains outside their control.

In another post here, there is a comment that Volcker's big regret was not moving to cap the price of gold in the 70's.