> On Mar 7, 2:37 pm, Greatest Mining Pioneer of Australia of all Times > wrote: >
>
>
> > By the way, get rid of your Gold bars now while at the top value,
> > that's going to plunge very steeply too since Gold going to hit the
> > 37 $ / ounce level very soon !
> > ( for reasons I have developed on another thread )
>
> Actually, an ounce of gold will still be worthexactly an ounce of > gold. >
> The 'rising' price of gold is an illusion produced by the continually
> falling value of the dollar.
>
> You are advising people to convert their gold back into the most
> devalued dollars in history?!
>
> You thing the value of the dollar will suddenly increase
> dramatically?!
>
> Gresham's Law applies - bad money always chases good money away. >
> > ~ Ignorance is the Cosmic Sin, the One never Forgiven ~
>
> ...as you so nobly exemplify.
>
> Tom Davidson
> Richmond, VA
Since Roman times an ounce of gold bought a man's fine suiting. On that basis the price of gold in dollars is about twice its true value in dollars during current deep and deepening economic recession. (Uncle Al placed a bet on Dow no higher than 3400 before recovery). Washington has explicitly created at least $5 trillion fiat money to run the war and reimburse vaporized investment banks.
Given WWI, WWII, the Korean, War, the Vietnam War we expect a 2-5 year delay then astounding inflation (or taxation) to fill virtual money states with real value.
Any time a market is eager to sell you gold (and you'd damned well better take physical possession of it) it is good time to sell. There will, however, be a mammoth bounce in gold value wthin a decade. The dollar is already dead. What will replace it?