Like many, the writer is Amerocentric. He places the force driving the price of gold on American market devices and forces.
In so doing, he failed to consider a major force driving the market, people in Asia, be they traders or just people. That component is apparently now missing. Why? I have no clue.
There is a fallacy or perhaps fallacies present in Free Republic gold threads.
The first is that lead and brass are superior to gold. The fallacy is single mindedness. A wise investor would diversify into both or even better into a mix of hard assets.
The second is the SHTF mentality, the thought that hyperinflation will destroy the world. While the hyperinflation is possible, it is not likely. A far more likely condition is inflation at an elevated rate but never approaching the hyper level.
Finally, I must tell you that when I hit 70, the onset of true wisdom occurred. The above is a manifestation of that phenomena,
>> “Finally, I must tell you that when I hit 70, the onset of true wisdom occurred. The above is a manifestation of that phenomena (sic)” <<
.
Perhaps you’d do well to wait for the the big dose at 80, judging by your post.