The Phaserl


Some Clear Thinking About the Price of Gold

from Sovereign Man:

On April 2, 2001, the price of gold closed the market trading session at $255.30. And that was the lowest price that gold has seen ever since. In US dollar terms, gold closed the 2001 calendar year higher than it did in 2000. Then it did the same thing again in 2002. And again in 2003. In fact, after reaching its low in April 2001, gold closed higher for twelve consecutive years– something that had never happened before in ANY financial market with ANY asset.

Then came a correction; the price started falling, and gold is now on track for 2015 to be its third down year in a row. What’s incredible is that, despite its history of gains, and 5,000 years of tradition behind it, gold is rapidly becoming one of the most widely despised assets.

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1 comment to Some Clear Thinking About the Price of Gold

  • rich


    Will China Play The ‘Gold Card’?
    Hugo Salinas Price

    Alasdair Macleod has posted an article at which I think is important.

    (See “Credit deflation and gold”.

    The thrust of the article is that China, at some point, will have to revalue gold in China; which means, in other words, that China will decide to devalue the Yuan against gold.

    Since “mainstream economics” holds that gold is no longer important in world business, such a measure might be regarded as just an idiosyncrasy of Chinese thinking, and not politically significant, as would be a devaluation against the dollar, which is a no-no amongst the Central Bank community of the world.

    However, as I understand the measure, it would be indeed world-shaking.

    Here’s how I see it:

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