I have JR on ignore, Stelios.. But it appears you're attempting to have an intelligent discussion about price of Gold.. Good luck on that front.
Fundies and economists are split.. Most pundits I subscribe to, agree with you Stelios. (although, perhaps I'm looking for 'confirmation bias' - something I try to be careful about)
To say so categorically either way,, would be a little naive. Otherwise you or JR would be retired in the Bahamas, and not debating ERM.
However, I think on balance, and considering the risk/reward scenario, I have a reasonable proportion of my money in precious metals. Physical and explorers/miners. What better way to leverage POG , than a share in an explorer setting up for production?. (Emmerson being way undervalued for some time) As for which way gold? Debasement of US Currency, Falling US dollar, Gold Index remains in a long term uptrend. US still printing money hand over fist, US debt ballooning, US market historically overpriced... psshhh..
