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| I have no idea. (g) Everything seems to move in cycles, but are we just in another of the cycles like the last peak, or are we just coming into a more major cycle - like Rome a couple of thousand years ago? The only thing I've learned for certain over the last decades of trying to predict markets, is that they will nearly always surprise me.
So far - I have to say that this cycle does feel much like the last one in the 70s/80s. When Carter appointed Paul Volcker, there was no expectation that he would be able to do anything about the problem. In the early to mid 70s, I was making trips back and forth through Canada. The CD was, at it's high, almost exactly where it has been trading a few years ago.
When I look at that gold chart, and I hear all the talk of what "must happen" - I have to wonder why adjusted gold has not even reached the previous high. I don't have an answer - I'm just wondering. | |
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Germany also continues to take back gold.
