Wednesday, January 28th, 2015 MST

ECB to print billions of euros

As European Central Bank President Mario Draghi has been promising (threatening?) for more than a year, the ECB finally is about to begin a quantitative easing program.  The program most likely will run for two years.

Fear of deflation guarantees inflation

Fears of financial crises aside, the primary reason for owning gold is as a hedge against inflation, inflation being defined as an increase in the money supply.   As more money is printed, the dollar loses value and prices rise.  A excellent example of this principle is the menu at an iconic restaurant in Phoenix, Durant’s.

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