“It’s essential to own it, basically the West is so deep in debt across the western world that it can’t possibly grow at more than very modest rates. Central banks, to try to stimulate growth, are printing paper money into oblivion, and we’ve simply got to hedge that risk by owning gold.”
“If you adjust the old all-time high in gold...if you use the RPI, you come up with a figure near $8,500 as the genuine price for gold, the old all-time high adjusted for inflation. I think we have to own it. Obviously it won’t go there in a straight line, it gets a little overbought and has setbacks, but I think it will probably hit $1,750 on this run. Then it might well have a three month period going sideways before moving up again. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/27_Robin_Griffiths_-_We_Will_See_at_Least_$8,500_Gold.html
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