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Notes to myself, possibly of interest to others.
-- Bill Northlich

Thursday, June 9, 2011

John Hathaway Confirms Gold to Trade in the Five Digits (!!)

Yet another breathless headline about debasement of currency and gold going to the moon (source). I get sent these all the time as I'm sure many of you do. My take is that of Rosenberg who has said $3000 is possible for gold at some point in the next few years, maybe sooner. Remember that, inflation adjusted, the all-time high for gold was about $2300 in '80. So, $3k does not seem so outre'.

I can't get a handle on why so many folks are Armegeddonists and! OMG!, hyper-inflationists. Y, things are bad, and this blog notes a lot of it.

But, c'mon... The USA is not Zimbabwe and never ever will be. We don't have a Mugabe in charge who is planning to run people off their farms or factories. One may think Bernanke's is bad policy, but one can't "deduce" from one's disapproval that the USA is Weimar Germany (I can provide history links if needed) or Zimbabwe.

Just does not compute.

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