but if the long term ratio cycles back to 1 then gold=3000
I think its a mistake to assume that a deflating stock market implies a lower gold price. I think its a replay of the 1930's and 1980's cycles where yes the stock markets deflate but the relative price of gold increases.
Increasing gold price implies a return to SAVINGS from a wave of CREDIT and DEBT. Buy gold and short the stock market imo
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