gold will trade $3,000 - $5,000 in 2012, page-148

skol I was around then & it's true there were cries of gloom & doom. I used to get the Ruff Times & similar Cassandra
warnings. But the difference between then & now is our position in in the economic cycle. In 1980 Anglo America
was about to boom for a generation- now we're heading the other way towards the Kondratiev Winter. There's no way
Volcker could come along & put up interest rates to 10 or 15 %in 2012 & pull it off like they did in 1980. People
everywhere struggled in Oz & UK to pay their mortgages & keep their houses. Every now & then doomsday movements
like Jonestown or the Millerites in America in 1844 come & go. That doesn't mean that there are no serious dangers
aound the corner-anyone living near Nazi Germany or Stalin's Russia was in for a big reality check in the near future. Let's see if March brings such a reality check for USA & their profligate bankers- it's been a decades economic long party.

I like your image of us goldbugs as crazed believers or Maoists clutching our little red books & screaming our
support with every little command from Party Headquarters
i.e.gold newsletter reports. But I know who's really crazy-
but I don't like to give offence.

We should have had you around in 1914 arguing for peace
in Europe . We would have had a better modern history as we know you never give up.