Free Republic

Are we approaching a peak in the price of gold? According to several mainstream economists, we are indeed. But, they’re DEAD wrong and today I’ll show you why. See, their argument relies on the inflation-adjusted price of gold. In January of 1980, the price of gold reached a local peak near $850 per ounce. According to official U.S. inflation statistics, $850 in January of 1980 would be equivalent to $3,504 today. In the 45 years since then, gold has increased in value by nearly 300% to $3,346. That’s getting close to the “official” inflation-adjusted 1980 price of $3,504. So are...

MICHAEL PENTO: It Would Be More Surprising If Gold Didn't Go To $10,000 Sam RoDec. 29, 2012, 7:12 AM Michael Pento The world's central banks have gold bulls on high alert thanks to unprecedented, ultra-easy monetary policy. Eric King of King World News asked Michael Pento if this means gold $10,000 is coming. Here's Pento's response: “Absolutely. I know it sounds ridiculous, but don’t forget that back in the 1930s it was (around) $21 an ounce. No one would ever have believed that 80 years later we would have gold trading anywhere near $1,900 an ounce, but that’s what happened....