The “new bull market” – the rally goes bye bye in real terms
Both stocks and bonds are now losing value in real terms due
to the dollar decline. US treasury bonds lost value all year relative
to gold, US stocks started to decline in real terms in August
after a 5-month rally.
![SP 500 in gold Oz SP 500 in gold Oz](http://usdcrisis.com/wp-content/uploads/2009/11/sptogold.png)
SP 500 in gold Oz
![30-year Treasury bond in gold 30 year Treasury bond in gold](http://usdcrisis.com/wp-content/uploads/2009/11/USBtogold.png)
30 year Treasury bond in gold
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