But it won't allow us to watch it anymore (M3 going stealth next year). Why? What does the Fed know about '06 that it's not telling us?
Notice how Gold has gone up almost everyday since the M3 announcement and Bernanke was confirmed. Something smells here.
My response is:
I agree with your comments above. The Fed has clearly put too much money in the system. That's what the price of gold is telling us and why the economy is booming. Money growth recently has slowed dramatically. Here's a chart of money growth I just generated from economagic.com: Click on the chart of money growth
Notice the huge bulge in money growth in 2002. That's what got Bush re-elected. It's also what's causing the spike in gold prices.
BTW, the rally in gold is real. Click on the chart of gold prices:
Notice the spike in prices and the lack of volume. No one was selling into this rally as it pushed through $500. When it comes back down and makes a nice bottom, buy it and don't sell it till you see record volume.