When it is understood that gold’s value is relatively stable over time, and that it is the value of currencies which change, it becomes obvious that the “price” of gold is irrelevant. It is the changing value of a currency that matters. And a decline in a currency’s value, largely due to loss of faith in it is reflected in higher prices for gold, and all non-monetary goods.
The causes of rising prices are poorly understood. Modern economic theories are badly disingenuous in this respect, leading to an almost total lack of awareness about the economic and monetary dangers we face, even among economists.
These dreadful errors are now hastening the demise of today’s fiat currency system.
