gold is doom!, page-21

Religion is the impotence of the human mind to deal with occurrences it cannot understand. KM

To this date goldbugs cannot understand that their predecessors were, essentially, making a punt that inflation was going to keep on running out of control and an armed confrontation between the USA and the Soviet Union unavoidably, a sentiment in part underpinned by the idea that the world was rapidly running out of resources.

http://en.wikipedia.org/wiki/The_Limits_to_Growt

https://en.wikipedia.org/wiki/Soviet_war_in_Afghanistan

A situation that in its essence is not much different than that of today, a time when the punt is about inflation, unavoidable financial and social collapse, and the challenges to the US economic supremacy and the Western way of doing business coming out of China.