Nixon eventually closed the gold window and the rest - is history.
In 1970, the average price of gold was $36.00/oz.
About a decade later, gold would break past the $800.00/oz level.
So some might say that since gold recently bottomed in the $270-360 range, and equal percentage increase would cause the price to rise to at least $8,000.00/oz.
This would mean a ten-fold increase from its all-time high.
Using the same ten-fold increase for silver, you come up with $500/oz.
Frankly, we think this ultra-bullish “equal percentage increase�? method is praxis patterns? -
All you need to do is sit back and think about the gargantuan liabilities this country faces in the forms of Social Security, Medicare and the overall national debt.
Throw in the unsustainable trade deficit and it should be obvious that eventually our currency will lose quite a bit of its value in terms of real money – which is of course gold and silver.
It may not be tomorrow, it may not be this year, but one day, the U.S. Dollar will end up in the same place as the German Reichsmark, the French Livre and the Roman Denarius -
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