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Interesting article from Bloomberg ...

MesquiteMesquite Posts: 4,075 ✭✭✭
in Precious Metals
... here.
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
–John Adams, 1826

Comments

  • jmski52jmski52 Posts: 22,838 ✭✭✭✭✭
    The peak in 1980 wasn't sustainable. Maybe $600 was, but not $850. At some point, you can bet your bippy that the govmint will want to step in - but only after their boyz are getting kicked around.

    At any rate, we aren't looking at a spike in the current price. We are looking at a managed deflation in the value of the dollar. It's a good way for the govmint to get out from under their promises to the American people without looking like they actually caused the problem.

    Sad part is, many people will never quite get it.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • CaptHenwayCaptHenway Posts: 32,129 ✭✭✭✭✭
    Remember that the peak in gold in 1980 was merely a side effect of the much greater peak (percentage-wise) in silver at the time caused by the Hunt Brothers attempt to corner the silver market.

    Today gold is driving the surge. Silver is just tagging along for the ride.

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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