https://www.zerohedge.com/markets/2023-goodbye-all
2023: Goodbye To All That
by Tyler Durden
Thursday, Dec 21, 2023 – 11:00 PM
Authored by Clive Hale via ‘The View From The Bridge’,
- “There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.”
- Forecasts create the mirage that the future is knowable – Peter Bernstein
*** begin quote ***
It may seem quaint, but there was a time pre-1971 when you could divide the monetary aggregates (there are several) by the amount of gold held by the US Treasury and you would derive the reference price of $35/oz.
And in 1980 when gold soared to $800/oz the dollar was 100% backed by the gold the US held.
What is shocking is the amount of paper money created since that time frame.
If one were to do the same calculation today (monetary aggregates/gold ounces held by the US Treasury) it would take a gold price of $80,000/oz to balance the equation.
A far cry from today’s $1,950/oz.
*** end quote ***
Wow, I’m not predicting that will be the price. I am predicting that the value of the U$D has been largely “inflated” away and the rubes aka “We, The Sheeple” just haven’t realized it yet.
I wonder when Joe-Sixpack in the Weimar Republic in the 1920’s realized that his German Marks weren’t good for anything but as firestarter. Likewise the folks in Zimbabwe who went out to pan for gold to buy bread.
Things retain “wealth” as folks eventually learn after getting screwed by politicians and bureaucrats with their paper money.
—30—
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Reinke Faces Life 