Yes, CB's certainly wanted to reinflate the housing bubbles in various countries and did not do so. It appears there strategy now is to inflate away the massive amounts of debt on the books. The next step will be massive QE. Whether they can create this inflation remains to be seen. CB's have failed in every attempt with QE. Whether they suceed or fail, these scenarios point to a much higher gold price. Stocks (RHR) will benefit greatly. It's always a good idea to buy a bit of physical as well. I would rather be holding hard currency rather than paper. SMF069