“There are no markets anymore, just interventions.” Because government interventions in markets are now so pervasive, I don’t think we have much of an idea of how anything would be fairly priced. The only thing I think we know is that Western central bank gold reserves, the crucial mechanism for market rigging, will be exhausted, likely within our lifetimes, at which point we may begin to discover market prices again — as if commodity prices recently haven’t been shocking enough. More
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