K
"Eg 3 - I also did not speak about how gold was suddenly officially revalued overnight, during the depression of the 1930s. There is a chance of such an event again."
ozpolar, I don't think that is likely, or even possible now. At that time the USD was tied to gold, so the Govt could revalue it against the USD. I believe it later caused big problems for the USD and U.S. Balance of trade, due to a much higher GP and demand outside the U.S.
The demand for gold is predominantly outside the US, and as we have observed for some time, the physical GP repeatedly returns to around USD1200 after each paper induced knockdown. I believe this is due to high demand from the East with disciplined buying within a relatively narrow price range. I share your confidence in a much higher GP, when China is ready. That could be a matter of months away!
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