Empirical evidence of secular change

On page 5 of the charts I maintain I have added a series of 10, 5, 3, and 1 year performance charts comparing the performance of various markets to one another.

Gold may be a barbarous relic in the eyes of our leaders. However, our leaders must contend with a history of well over 5000 years whereby gold has provided a store of value in good and bad times alike. Remember that currencies come and go. As currencies go, the current version of the US$ is almost 100 years old; as fiat currencies go, that’s pretty good.

Be that as it may. The fact that market participants are accumulating gold contrary to what our leaders are recommending, is saying something. Gold is a good investment now until it will no longer be. As the antithesis of fiat money, gold is saying that not everything is right in the institutions of power. Right now, gold is flashing a big honking warning sign on the health of our monetary system thus our freedom, our political system, our democracies.

A bon entendeur salut.



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