Chart of the Day

This is a chart of the U.S. dollar index. As you can plainly see the dollar is falling out of bed. Today the dollar index broke 77 and is sitting at a year low. Todays $20 billion 10 year bond auction better go well or the dollar will fall much further. September gold futures are trading over $1,000 ounce and should actually be trading much higher. This is the price you pay when you run $1.5 trillion budget deficits and the Federal Reserve prints money to monetize the debt. This is a VERY ominous situation and will result in inflation in the not too distant future.-Lou