The Bank of Japan spooked another massive short-covering rally in global stocks today even while central banks are clearly not stimulating the global economy and deflation continues to haunt them with mounting downside to global revenues, GDP, emerging markets, currencies, earnings, over-valued stocks and commodities and a wide world full of highly indebted households, governments and corporations.
And last but not least, there is the pain deflation brings to precious metals, where gold and silver today fell to levels first breached in 2010 when ‘stimulus’ efforts were widely predicted to create run away inflation and the demise of the US dollar…
Bloomberg looks at gold as it pertains to the dollar, rising equities and
tame inflationdeflation. Here is a direct video link.
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