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LETMYSILVERGO
20th June 2008, 14:45
Gold Calls Ben's Bluff

The Daily Reckoning Australia

London, England - Melbourne, Australia

Thursday, 19 June 2008
In This Issue:
How do you know when a politician is stupid...

Mortgage arrears on the rise...

Rare earth elements...


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From Dan Denning at the Old Hat Factory:

--Gold and silver are calling Ben Bernanke's bluff this week. Bernanke huffed and he puffed and he bluffed and he bluffed all month long about inflation. But the market realises that with America's housing market mired in the muck, the Fed won't be raising rates to defend the greenback this year.

--In the futures market, the odds of a Fed rate rise dropped from 26% last week to 12% this week. The U.S. dollar continues to fall and gold was up US$6.60 in New York trading while silver hit US$17.34. Commodities have spoken. "Liar!"