Currency Intervention and the Leap-Year Gold Massacre - DailyFinance
Although Fed Chairman Ben Bernanke would like for you to think otherwise, gold is immutably money. Central banks hold it within strategic currency reserves, and are busily acquiring more. Observing the unsustainable deficit-spending that continues to plague U.S. fiscal policy, and the unprecedented campaigns of intervention conducted by the relevant central banks in response to the global debt crisis, one can hardly feign surprise at the resurgent role of gold as a counterweight to the impaired condition of the world's major paper currencies.
