Gold is up $70 in one day, the largest move to the upside ever. As I predicted, Treasuries are up big time, some are yielding only .08%! Because one of the biggest money market funds broke a dollar, there is almost no where to hide except gold and Treasuries.
The touts on CNBC who are always looking for the bull’s point of view, are running out of people to talk to. I just saw Maria Bartiromo beating up a poor spokesman for Standards and Poors, for having the temerity to downgrade AIG’s debt ratings “at this moment of crisis”. Is she a reporter or a cheerleader?