The Mix

Run from your money!

At $600 an ounce for gold, you'd think there would be some kind of money scare or something.
Oh, didn't you notice? "Gold futures climbed Thursday to more than $600 an ounce for the first time in 25 years, as other surging commodities, especially in the energy markets, stoked investors' inflation concerns."

Oh, why's that?

"According to Leonard Kaplan, president of Prospector Asset Management, there hasn't been a close correlation between energy prices and gold prices for a long time, but the rationale is that rising energy prices will cause inflation, and inflation boosts precious metals."

That's a pretty sinister way of explaining that when wealthy people who have greater understanding of market dynamics see a faith-based dollar lose its value from inflation, they shed the responsibility of dealing with the fallout, and leave that for the rest of us who don't know where the nearest gold market is.
Jan Frel is an AlterNet staff writer.
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