RE:RE:RE:GOLD IS KINGtootall123 wrote: 1970s = Today?
Stagflation in the 1970s combined high inflation with uneven economic growth. High budget deficits, lower interest rates, the oil embargo, and the collapse of managed currency rates contributed to stagflation. Under Federal Reserve Board Chair, Paul Volcker, the prime lending rate was above 21% to reduce inflation.
Jan.1970 gold was at $35.00 and 10 years later Jan. 1980 gold hit a high of $850.00 = + 2300%
Today gold $2,000 +2300% = $48,000 ?
Not going to go down your rabbit hole but until 1970 gold was fixed at $35 with Bretton Woods and no true price discovery until it was unpegged in 1970/71.
The fixed to true price discovery was a one time occurance. extrapolating from the time to now is bogus.
It completely overshot it's worth due to a mania (hitting inflation adjust 2600 in 1980).
Unless they find a new use for it, i would not want to see POG at $50K anytime soon. careful what you wish for.
tC