Replies to post #358070 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

It still holds, and it is a wisdom I learned from Sennet on SI a long time ago...

[Newly2b]

I would add that the POG is subject to normal supply/demand and at times reflects people's PERCEPTIONS of the value (as opposed to the actual value) of the dollar. I believe that during times of inflation (late '70's), or political upheaval, the POG can far outstriped the actual decline of value of the dollar due to it's perceived safe-haven status and portability as a store-of-wealth.

Newly