Paper currency would have some intrinsic value if it didn't have printing all over it, it could be used for writing paper.
It costs $500 thee oz to mine gold. Probably double that if you factor in all the money spent on exploration, exploration companies that have failed, mining companies that have failed and money lost on the falling U.S. dollar (all Canadian Miners hold U.S. dollars only, GG lost $1 billion on their U.S. dollars a couple of years ago).
The key here is to decide when these idiots will jump out the window? Do you have any inclination? They could ride this insanity for years, do u think $1500 or $2000? How much correction before they crap their panties? 20%?
I agree with the author on his main point but the author is breaking his own rule.
If you consider gold as the "last ticket out of town" as he does you must have the physical gold in your possession. The author only owns gold stocks and futures which are nothing but paper proxies.
The reason there is no top for gold is because there is no bottom for the value of paper currency.
In terms of a gallon of milk.
It wasn't long ago you could buy a gallon of milk for $1
Today, a gallon of milk costs $2.50
Next year, milk will cost $5
a million $
a billion $
a trillion $
a hundred trillion #
Let me guess, it is the same reason Miami Condos prices have no ceiling. Do u idiots ever realize u are playing a stupid game of whack a mole? Where is the inflation? Housing or is it labor or electronics? Must be inflation in gold, that is the only place for inflation
another short who is going to bite the dust.
futile to discuss anything with him.
he will just keep repeating the same one line mantra.
amazing the modus operandi of nearly every short is the same.
Nothing substantial in their comment.
Nothing about manipulation.
Mostly ad hominems.
Never a link.
Mostly about a top and the immediate dip about to take place.
Mostly one liners.
Mostly words that are less than 6 letters.
A simpleton mind thinking that they are affecting anyone one the board.
A simpleton mind thinking they have said something profound.
But probably paid by the post, the more absurd the more they get paid.
And finally, their posts are designed to be filler on the board and a distraction from real dialog.
What else could it be.
No one can be as dumb as most of the one liner shorts.
It doesn't at all require rare objects. For example you could define a unit of currency as being the amount of human labor to lay one brick then scale everything by that unit. Since gravity isn't changing and if you define the weight of the brick and the time to mortar and lay it you have a basis of value. So it cannot be inflated nor debased yet it isn't a shiny thing dug up from the ground.
I totally agree with your article:
"Up to this point this dramatic expansion of the U.S. monetary base has not caused that much inflation"
Maybe I should explain: I’m a Werner Jaeger schooled, Chicago school of economics belivin’, lover of Milton Friedman who thinks that trillions of dollars in spending has to inflate the economy at some point. All I said is that we havnt seen it yet. Sheesh.
Here is a 2011 4 dr Nissan with automatic and air listed for 342/mo. Remember the good 'ol days when it would cost about the same....