RE:Goldunclebobby wrote: Gold on it's way to $2600.00 new highs.
Date: Sun, Sep 15, 2024 at 9:23PM
Subject: Fwd / Gold - Dang 
To: Gold Fact 1 - On 15 August, 1971, the USA ceased redeeming
gold for $35.00 an oz. The LBMA price was
approximately $43.00 an ounce at that time.
Gold Fact 2 - As of 12 Sep, 2024, the price of gold is approximately
$2,555.00 an oz and has compounded at a rate of
approximately 8.00% for approximately 53.08 years.
Gold Fact 3 - The dollar has lost 98.32% of its value against gold
since 15 Aug, 1971. The dollar is now 1.68% of its
value against gold.
Gold Fact 4 - Gold has beaten inflation by approximately 665%
using government data which I believe is
fraudulent.
If gold continues on its current average compounding rate of approximately 8.00% for another 5 years, then gold will be valued at approximately $3,753.00 an oz at this time in 2029 (1.079995%^5 years) × $2555.00 = 3,753.35
If the aforementioned occurs then the dollar will have lost approximately 98.85% of its value against gold. The dollar will then have only approximately 1.15% of its value against gold and, in my opinion, it will be on its way to the dustbin of history like all the fiat currencies before -- if it hasn't collapsed before then.
Fun facts….
Also: (the closing statement from an article re Lyndon Johnson's partaking in the change of the Gold Standard in 1968) The real question to ponder is whether the liquidation will be accomplished “morally”, i.e., by default, with the holders of the debt losing their principal and learning a lesson that will not be forgotten (at least until the extinguishment of presently sentient lives in being), or whether it will be accomplished through a final spasm of money printing and its associated hyperinflation. Either way, LBJ’s monetary legacy of “creditism” will come to an end, because, as Ayn Rand observed, “You can avoid reality, but you cannot avoid the consequences of avoiding reality.”
Jay Zawatsky is the CEO of havePower, LLC (a natural gas infrastructure developer) and a professor of business in the dual degree MBA program of the University of Maryland University College.