Once upon a time, gold was viewed as a hedge against inflation. That idea has been turned on its head, as gold (as well as silver) took a beating in today's trading...
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CPI Miss – Misleading Markets – The Record that Ain’t
by George Ure
Urban Survival Blog

[snip]

Welcome back to the poop deck of once Titanic America. Where the ship of state has been seriously holed, not by an iceberg, but excesses of Marxism and Monetarism. “If the right one don’t get’cha, then the left one will” sang Tennessee Ernie Ford. While loading 16-tons.

Hot As Hell CPI

“The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in January on a seasonally adjusted basis, after rising 0.2 percent in December, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.1 percent before seasonal adjustment.

The index for shelter continued to rise in January, increasing 0.6 percent and contributing over two thirds of the monthly all items increase. The food index increased 0.4 percent in January, as the food

at home index increased 0.4 percent and the food away from home index rose 0.5 percent over the month. In contrast, the energy index fell 0.9 percent over the month due in large part to the decline in the gasoline index.”

Markets promptly fell in the toilet with Dow futures down almost 400 ahead of the open and the S&P down 64 and change.