UPDATE 5.24.23: Since writing this post nearly ten years ago, gold prices have climbed from $1,325.71 per ounce to $1,975.12 per ounce.
Originally posted September...
So how are things going? Thanks to Ben Bernanke, not so well. You see, the Fed Chairman has decided that the way to artificially pump up the economy is to clamp the lid on the interest rates for two more years. The target rate on Fed funds is now basically zero. Such historically low borrowing costs are just dandy for Washington’s favorite New York trading crowd at Goldman Sachs, but far from fine for the savaged Boca Goldmans, Sid and Rhonda.