Gold Regains Its Luster
Although I dig the chart porn, via WSJ, the timing is rather inauspicious . . .
Source:
Investors Rush to Gold
Metal Hits New High; Fans in the Mainstream
E.S. BROWNING
WSJ, January 31, 2008; Page A1
http://online.wsj.com/article/SB120174306415930617.html
Sunday, February 03, 2008 | 04:00 AM | Permalink
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Turn the chart upside down and it is a report card on the dollar. The dollar never recovered from the breaking of the gold standard in '71.
Intelligent people will agree that no fiat currency has ever been sustained in history. It's a simple fact. But those same people believe that our fiat dollar can go on forever. That is cognitive dissonance.
By the way, the price of oil measured in gold has remained constant for about a century.
Posted by: Roger Thatchery | Feb 3, 2008 6:18:12 AM
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