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Even for Joe Weisenthal, this is pretty weak cheese. Well, let’s just get to ‘em, one by one:

1) Current rates are purely the result of the Fed buying every debt instrument in sight with printed money, nonstop.

2) Gold is above its long term average, so what? A bag of chips has surged to new all time highs and is currently above its long term average too; should I expect it to be cut back to its 1968 price?

3) Official CPI has been fraudulent for forty years, and increasing in the level of fraud with every adjustment. Draw that again with real inflation numbers and we can talk. (Does anybody know what the numbers on the Y-axis here mean?)

4) Gold is overvalued because the biggest housing bubble in the history of the world busted?

5) Any talk of “the Eurozone” being “saved” in the near or far future is simply foolishness. They have only one solution for their debt problems: pay off that debt with more debt-backed debt.

6) Now all of a sudden, something out of trend is supposed to continue to go out of trend, instead of reverting to “historical average”. That same graph shows that two years ago, the price moved 3 standard deviations in less than a year, twice.

7) Cherry-picking graph points. The full graph from 2010 on says nothing more than that we’re bouncing around at zero. (NB that each bounce is weaker than the one before.)

8) Again, from 2010 on, it’s just a graph of random movement.

9) Noise.

10) Housing prices are going up again? Again, so what? BTW, shouldn’t this be indexed to CPI, excuse me, to real CPI?

11) It doesn’t follow that an increase in households implies an increase in housing. I need to see this broken down as home ownership vs rentals.

12) More cherry-picking. The decades-old adage of a silver quarter buying a gallon of gas and an ounce of gold buying you one hell of a suit still holds.