One more point.
Have you noticed who the biggest buyers of gold are, these days? It's not me. Nor Bill Gates. And George Soros claims to be selling! No, the biggest buyers by far are . . .
Central banks! The very organizations that have embraced Keynesian theory for the last seventy years. Keynes, you'll remember, stated in 1924, "In truth, the gold standard is already a barbarous relic." And that's been the official position of Central Bankers ever since.
Yet the biggest store of gold in the world resides at the Federal Reserve Bank in New York, and purchases of gold by the ton are being announced regularly by Central Banks around the world.
That doesn't makes a lot of sense now, does it?
Or DOES it????
I, obviously, think it makes plenty of sense. The Central Bankers are lying to us - as they have been all along, about almost everything. They know that unbacked currency is failing, and they want gold for some new, future currency which will be backed either entirely or in part by it.
But I'd love to hear anyone else's explanation . . . if anyone can come up with one.
Since much of the world's gold is now in private hands, I posit that the value of gold will need to increase about tenfold from here if it is to again be used as backing for the world's money.
Chew on that for a while, if you will.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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