Tidbit From the "Cafe"

From Le Metropole Cafe, that is:

"Just saw Martin Renneke of Bridgewater Associates on Bloomberg TV. He is a European with a Swiss accent and a senior investment strategist at that firm. He says there is essentially no limit to how high gold can go in this environment. He says that in Weimar Germany the annual inflation rates moved yearly from 6% to 20% to 600%, to 18,000% to a couple of billion percent inflation. He quotes a study by S&P that concluded that most of the developed world's bond paper will be junk in 30 years. There is 25 Trillion of US treasury paper out there and all the gold ever mined is worth about 2.5 trillion, of which only a tiny percent is available for transaction. He says inevitably bond money will go into gold for security. He said it was highly significant that "Helicopter Ben" Bernanke [his words ONSCREEN--ho ho ho] will be beginning his reign with the elimination of M3 data. He says gold will outperform all other asset classes and there is essentially NO CEILING on how high it might go."

The Cafe's subscription price is just this side of stealing.