CME sees gold as money

While the mainstream media continues to categorize gold as a "commodity," the world's largest derivatives exchange views it as currency.

The CME now accepts gold to cover margin variation on all CME traded products,

(Bloomberg) CME Allows Gold to Be Used as Collateral for Trading

Gold has outperformed equities, commodities, and other currencies,

down with the USD

The short USD trade has become even more crowded.

The blogosphere and news media were lit up yesterday with dollar bearish headlines. The hub bub stemmed from an article by Robert Fisk in The Independent, The Demise of the Dollar.

Gold broke to an all time nominal high, topping the $1032.70 high of March 2008. This is significant and may mark the next leg of the gold bull market when, as Richard Russell believes, the general public finally gets involved.

(2 year reverse head and shoulders formation in Gold)