Goldbug Saturday

“Bereft of the modern printing press, the Romans resorted to clipping their metal coins, a practice most prevalent during the reign of their infamously pyromaniacal emperor, Nero. The idea was simple enough: Boss Man calls in ten coins…then reissues eleven, fashioned out of the same amount of metal. And, voilà! Wealth has increased by 10%! The scam here is obvious…except to the credulous acolytes of modern finance.”  Daily Reckoning

Perpetual QE Has Arrived:  “Unless the Fed is Actively Engaging in monetization at every given moment, the impact from easing diminishes progressively, ultimately approaching zero and subsequently becoming negative!”  And this was written prior to ‘preparing to interveen’ talk of Thursday and Friday at Zero Hedge.

But this fellow says Current Account, Inflation & Jobless Claims Not Enough For QE3 & Twist Pressure at 24/7 Wall Street.

“There hasn’t been a case in history where they haven’t eventually printed money and devalued their currency.” – Ray Dalio (AA)  [Cliff Comment: The inflation from money printing might not occur rapidly enough to prevent a deflationary financial system disastrous collapse.]”  Cliff Kule

Cheap gold stock commentary Adam Hamilton at Zeal.

Gold chart at Seasonal Charts with a hat tip to 3.58 at Investor Village.

S&P 500 inverse head & shoulders breakout:  This is How Bottoms are Formed from All Star Charts and another from Market Anthropology.