Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (71833)	12/24/2009 3:11:40 PM
From: RJA_	5 Recommendations Read Replies (1) of 74559

>>The main reason for gold to rise in price is because the cost of production is increasing. The other reason is speculation fever. Mq: You have been bad mouthing gold since TJ brought it to your attention at USD 280 or so, with similar arguments. That is your record. The world has been on some kind of metallic and particularly gold standard since Great Brittan adopted it at the suggestion of Issac Newton in 1717... and of course, it was used as money long before that... some say for the last 5000 years. The Scandinavians used Silver during the time of the Hansiatic league. It has been only since 1971 that the world was forced by Richard Nixon to adopt the un backed paper dollar standard. So, 38 years of the paper experiment, just shy of 300 years of the gold exchange standard, and before that various metallic standards, including gold and silver. Is it possible perhaps that the aberration is actually the current 38 year window? And if so (granting the premise) what are the implications for the gold price? Of course, I know you will not grant the premise... as you did not in 2002. Not that I wish to debate you... just pointing out some history.

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