gold is rising as a function of the value of the dollar.
What about 1985-1995? The US Dollar was tremendously devalued, more than it did today. What did gold do. If Gold was so dependant on the USD dollar, why didn't it jump so much more? The deficits were very high as compared to GDP. There was a Communist enemy. So what capped Gold at that point in time? Maybe it was the central banks? Please what does a Varanasi wife care about the US Dollar when she buys a gift for her husband. Gold rises because of demand and demand rose because the wealth of people in emerging markets as grown 5 fold or more. Gold has gotten relatively cheaper.
It was ultimately a function of liquidity. There wasn't as much of it back then. Not as much money circullating, and the rates were too high to borrow it. But when you drop borrowing rates down near zero, then any Tom, Dick, and Harry can call on that money and jump into the market. And they did. Everyone is jumping on any market they can throw money at for the last 4 years. Stocks, Commodities, and of course Bonds which keeps driving their rates lower.
As a result we have yield curve compression domestically which is a harbinger for curve compression against foreign markets. There already is some rattling Japan. When they domestically invert the yield curve and pause rates flat it should take much more than jawboneing rising rates in Japan or Europe to shake out the carry trade or did you really think that all that gold buying was actually that Japanese becasue of "uncertainty of the US economy".
Call it or me what you want, I don't care. They are able to make a market for clients and that is all that really matters. I don't deem my perception as correct I could be far from the fact but it is good enough for me. At the very least I consider everyones perceptions before passing judgement on them. In the case of what you posted about gold, fiat money, and us economic instability, I've already heard it touted many times before. There is nothing new in what you are saying so why should I give you another rah rah regarding it. Instead I'd rather bring something new to the table, other than economic implosion. Something that actually pertains to what the Fed and Central Banks are doing. Are they really doing away with M3? Not likely. They still have to post all the data that results in M3. So anyone with the proper hyperlinks and a calculator will be able to do it just fine in plotting the graph of it. Maybe even post it on a site for 19.95/month for those too lazy to actually do the math.
That is the virtue of the chicken little crowd. It's easy enough to say the sky is falling because you get bonked on the head, but do little to further study the situation.
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