“Try $600. The world is in a deflationary spiral.”
Did Bernake shut down the printing presses?
“Did Bernake shut down the printing presses?”
The Fed doesn’t have a printing press. Exchanging treasuries for currency does not increase the money supply. Creating new debt does. The Fed does not sign promissory notes.
Watch China. Western Europe is already in deflation. Japan has been in deflation for decades. The US is in deflation that is being masked by the Federal government creating new debt as fast as it can - mainly through student loans.
Precious metals are a commodity - which generally fall significantly during deflation. Oil is the exception, due to unrest in various parts of the world.