No one can say for sure how deeply gold will correct before it turns to embark on a spectacular run-up, but I wouldn’t be surprised to see it take out October’s lows near $1600.
What perplexes us is placing a proper valuation on Bitcoin versus its price. We know ad nauseum that Gold today is priced at basically one-half its dollar debasement.
Hemingway's novel The Sun Also Rises has a line that’s now a familiar quote: “How did you go bankrupt? Two ways: Gradually and then suddenly.” Thus goes the United States.
Chinese gold-backed exchange-traded products added 10 tons to their holdings. And the People’s Bank of China increased its gold reserves by a whopping 225 tons.
We’re talking in today’s report about fake real GDP that did not have enough inflation taken out of it to show what really happened in US production last quarter.
Since the detachment of the US dollar from the gold standard in 1971, the dollar has lost over 85% of its value, while the value of gold has skyrocketed.
This series of events that echoed throughout the American Civil War effectively ended North Carolina’s growth and leadership in gold mining and the private minting of sound money.
