RE:RE:Stagflation!
Yes, as the S&P falls the first jerk knee reaction is to go to dollars. After that the depreciating inflating are traded for gold. The central banks as well as high net worth individuals have been loading up on physical gold. Gold is now a tier one asset competing against bonds.
The United States Federal Reserve is the one central bank, odd man out, still shorting paper gold on the COMEX as gold inventory reserves backing over leveraged paper gold is diminishing as delivery is being taking. Their position is becoming less tenable day by day.
It looks like things are at an inflection point.