Here is what Jim Willie says.

http://news.goldseek.com/GoldenJackass/1196971306.php  

The 2-year USTreasuy Bill yield has fallen more since my last article. It is just under 3.0% incredibly, down from 3.2% a couple weeks ago. This short-term yield indicates the USFed is over 1.5% behind the curve. Three 50 basis point rate cuts are dictated, yet the goon squad at the USFed sits on its hands. At this point, a mere 25 basis point rate cut on December 11 would not be met favorably. As the USFed catches up, again kicking and screaming, they will ignite the gold price. The priority for the USFed will continue to shift from concerns over price inflation to concerns of risk for USEconomic deterioration amidst a profoundly crippled bank structure.