You guys are all looking at the wrong place. It is the price of a decent suit that determines the pog. Because the ratio between the pog and a decent suit is constant logic tells me that whenever the price of a decent suit falls, so must the pog even when it costs $1,000.00 to produce an ounce of gold and the markup demanded by every miner is 10%; or the PBOC is buying all the illegal mined gold; or the FED is shorting gold with paper gold; or gold is moving from the West to the East; or there is invisible hyperinflation; or the dollar is being debased; or America is turning into Zimbawee; or the petrodoller is about to vanish; or master Putin is buying gold; or there is a prison under the water in the Caribbean sea secretly holding thousands of banksters, or Fort Knox is empty; or Comex is facing a gold crisis; or America cannot pay its debt; or Yellen cannot raise rates; or J.P Morgan its setting fire to its basements emptied of all gold in order to declare a force majeure; or gold has instrinsic value; or it is QE to infinity; or people during the Cypriote crisis were buying gasoline and groceries at supermarkets with gold as they could not discern the value of the euro, their currency, even when the prices where expressed in euros; or the gold to the monetary base ratio is bellow .02; or the POBC needs a minimum of $5,000 metric tonnes of gold in order to have the renminbi included in the basket of currencies determining the value of the SDRs; or there is war in the Middle East and in Ukraine, or gold is money, rare and beautiful; or the FED is going to be audited by Ron Paul and his muchachos; or the evil banksters and governments are corrupt and liars; or...whatever.
