Admitting the Obvious......

So the Fed minutes come out today and the Fed finally admitts the obvious, there is runaway stagflation in the economy. DUH............

Oil hit $134 around 4:30, gold was up $13 to $930ish and the market got clocked for 400 points over the last two days. Oh, and not one mention on CNBC about how wrong they were about how peachy things are.

Speaking of CNBC, I have met the enemy and thy name is Guy. Yesterday, on Fast Money, Adami had the balls to call gold's rebound a dead cat bounce and nothing more. Disgusting. They and the rest of that station are a joke and do the average investor a huge diservice.

So where to now? Well, the dollar has resumed getting demolished like anyone with an ounce of intelligence thought it would and gold has responded nicely. I look for gold to reach $1,000 shortly.

As I have always said, all roads lead to gold, no matter what CNBC says.