Hi Timber
It is just an interesting reference point, highlighting the fact that gold reserves are finite while fiat is obviously not.
If POG is referenced to money supply, and the money supply is increasing faster than the gold supply, then it would seam reasonable to assume that POG will keep appreciating so long as this dynamic remains.
Of course, Gold is not consumed, and can flood back onto the market the moment sentiment changes, so is not without risk.
That is why most of my focus is on a spread of low cost producers.
If the Fed and CB's raise interest rates, will they be able to meet interest payments?
This is all a bit beyond me, but it does look like CB's have painted themselves into a corner, at least until something changes.
I wish I listened to my gold bug friends 6-7 years ago.
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