Here's a Reality Check for the Dollar Bulls

Where are they? Where are the dollar bulls who called the top in the commodities? Where are those who said that the strong dollar would turn around the commodity markets and make everything from oil to potash go down? Where are the people who called the top in energy after Exxon Mobil's (XOM - commentary - Cramer's Take) bad quarter? Where are they?

There is more disinformation out there than I have seen in my life. The merger of the macro guys who assure us that the Fed or the dollar are in control has produced some of the most shoddy, least rigorous thinking, masquerading, of course, as genius. The people who spout this stuff are "infallible." They are never on when the commodities go up. That's because they have no thesis away from Bernanke and the dollar. They don't do any broader homework on supply and demand.

They actually think that the dollar controls the price of oil, not the lack of supply and the incredible demand. They have not been on any of the conference calls on Transocean (RIG - commentary - Cramer's Take) or Exxon or Chevron (CVX - commentary - Cramer's Take) or today's Anadarko (APC - commentary - Cramer's Take). They don't know how hard oil is to get at or how many of the countries have taken over vast tracts and don't spend to drill. Never has so much money been bet so wrong about some commodity.

Or gold. I like gold because it is a great hedge against the U.S. printing itself out of its jam, which is what we do. We have no fiscal discipline at all in this country; we are a complete joke. The dollar bulls are saying that the dollar bears were buying oil and corn because of the weak dollar. Nonsense. They are buying euros and were buying gold.

I think that gold is about to have a huge run here, and the pullback is over.

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