this should really rocket gold., page-6

morning,

"there is only one thing that can rocket gold up: USD systematic failure.

Without a USD or USTB failure, gold will remain stuck in the mud."


well, history potentially agrees with you, however, looking at a long term chart - I believe anything is possible and I doubt if gold will refuse to head north for much longer. I believe it is possible that this time is different - Cyprus has shown the world that money in the bank is not only at risk, but WILL be taken ------------- and now Putin is basically telling everyone that all of Europe is not only at
risk, but it is only when.

If the world is stupid enough not to listen - so be it.

Below probably supports your case if things are the same - I just think things are different now.

have a great day all

Pinto

"By 1971, the money supply had increased by 10%.[3] In May 1971, West Germany was the first to leave the Bretton Woods system, unwilling to devalue the Deutsche Mark in order to prop up the dollar.[2] In the following three months, this move strengthened its economy. Simultaneously, the dollar dropped 7.5% against the Deutsche Mark.[2] Other nations began to demand redemption of their dollars for gold. Switzerland redeemed $50 million in July.[2] France acquired $191 million in gold.[2] On August 5, 1971, the United States Congress released a report recommending devaluation of the dollar, in an effort to protect the dollar against "foreign price-gougers".[2] On August 9, 1971, as the dollar dropped in value against European currencies, Switzerland left the Bretton Woods system.[2] The pressure began to intensify on the United States to leave Bretton Woods.
Event[edit]

At the time, the U.S. also had unemployment and inflation rates of 6.1% (Aug 1971)[4] and 5.84% (1971),[5] respectively. [notes 1]
To combat these issues, President Nixon consulted Federal Reserve chairman Arthur Burns, incoming Treasury Secretary John Connally, and then undersecretary for international monetary affairs and future Fed Chairman Paul Volcker.
On the afternoon of Friday, Aug. 13, 1971, these officials and other high-ranking White House and Treasury advisors met secretly with Nixon at Camp David. There was great debate about what Nixon should do, but ultimately Nixon, relying heavily on the advice of the self-confident Connally, decided to break up Bretton Woods by suspending the convertibility of the dollar into gold, freezing wages and prices for 90 days to combat potential inflationary effects, and impose an import surcharge of 10 percent.[6] "Connally brilliantly packaged the program not as America abandoning its commitment to the gold standard but as America taking charge. He turned the dollar's collapse, which could have appeared shameful, into a moment of hubris."[1]
To prevent a run on the dollar, stabilize the economy, and decrease unemployment and inflation rates, on August 15, 1971, Nixon issued Executive Order 11615, pursuant to the Economic Stabilization Act of 1970, which imposed a 90-day maximum wage and price ceiling, a 10% import surcharge and most importantly, "closed the gold window", ending convertibility between U.S. dollars and gold."