A construction worker cannot use a rubber band to measure the length of a beam; he must use a steel tape. An accountant cannot use a rubber dollar to measure the worth of an enterprise; he must use gold.
The erosion of faith in paper money is a one-way process (with some zigs and zags).
But eventually, backwardation will become deeper and deeper (while the dollar price of gold is rising, probably exponentially).
The final step is when gold completely withdraws its bid on paper.
At that point, paper's bid on gold will be unlimited, and this is
why paper will inevitably collapse without gold.
[
link to www.gold-eagle.com]
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