When will we see indications that trillions of dollars introduced by the Fed will set off inflation?
*Dow Theory Letters, by Richard Russell, December 10, 2008:
"Gold -- In the meantime, gold has been moving methodically higher.
Have the Bernanke-Paulson machinations finally caught on in the
markets? If they have, I said, gold would be the first to know it.
Bonds would be a close second (bonds would head down in the face of
"Russell opinion -- We may now be hitting the inflection point that I've been talking about. The selling of stocks could be exhausted, the deflation may be on the edge of turning into inflation -- today bonds were down, dollar was down, gold up strongly. The Bernanke-Paulson 're-inflation' efforts may finally have halted the fear and deflation syndrome -- now the trillions of dollars that have been introduced into the system may be close to setting off inflation. I said that the first hint of the change would be rising gold and declining bonds. We may be there."
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