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Jim Rickards: The bogus case against gold
By James Rickards
The Daily Reckoning, Baltimore, Maryland
Thursday, November 12, 2020
Gold is in the early stages of its third great bull run that will take it to record heights.
The first two great bull markets were 1971-1980 (gold up 2,200%) and 1999-2011 (gold up 760%). After peaking in 2011, gold fell sharply from that peak to below $1,100 per ounce by 2015.
... Dispatch continues below ...
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Now the third great bull market is underway. It began on December 16, 2015, when gold bottomed at $1,050 per ounce at the end of the 2011-2015 bear market. Since then gold is up significantly, but it's small change compared to 2,200% and 760% gains in the last two bull markets.
Still, most mainstream economists dismiss gold. They call it a barbarous relic and say it has no place in today's monetary system.
But today I want to remind you of the three main arguments mainstream economists make against gold and why they're dead wrong. ...
... For the remainder of the commentary:
https://dailyreckoning.com/the-bogus-case-against-gold/
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