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Richard's Remarks

 

Bull market or bear market? Below we see a listing of the year-end cost of gold denominated in Federal Reserve Notes (these notes are now commonly called "dollars"). From a market standpoint, we're looking at one of the greatest bull markets in history. But ironically, referring to "dollars alone," this is one of the worst bear markets I've ever seen.

 

Bear market? Sure, back in the year 2000, for only 273 dollars you could buy one ounce of gold. But by 2012, you needed over 1600 dollars to buy the same one ounce of gold. The eternal value of gold doesn't change. It's the purchasing power of the Federal reserve note that has changed.

2000 -- $273.60 2001 -- $279.00 2002 -- $348.20 2003 -- $416.10 2004 -- $438.40 2005 -- $518.90 2006 -- $638.00 2007 -- $838.00 2008 -- $889.00 

2009 -- $1096.50

2010 -- $1421.40

2011 -- $1531.00

2012 -- $1675.00

 

The price of gold ... Log in or subscribe to continue reading.


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