Investor frustrations about gold

Myrmikan Capital/Daniel Oliver

Repost from 9-22-2021

photo of President Biden at the podium prress conference“[I]nvestors are understandably frustrated that gold is not already much, much higher. There seem but two likely possibilities: gold is simply digesting its recent run from $1,500/oz only eighteen months ago and will soon launch higher, or gold is telegraphing a looming dollar liquidity crisis.… The third possibility is that Myrmikan’s thesis is simply incorrect: the government can run rising deficits without limit, the stock market can accelerate higher forever, wealth concentration can continue with no societal or political effects, the U.S. empire can decline with no material consequences for Americans or our markets.”

USAGOLD note: Myrmikan reflects on why gold can’t seem to get out of its own way. How could it remain stuck in a range while the Biden administration’s anything-goes, free-wheeling economic policies progress without any check whatsoever? Ultimately, it says, it will become unstuck and trade for “multi-thousands per ounce” as investors launch what Ludwig von Mises called “the flight into real values.”

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