And now, when weighed down by the pains and aches of old age, when the head inclines to the feet, when the beginning and ending of human existence meet, and helpless infancy and painful old age combine to- gether--at this time, this most needful time, the time for the exercise of that tenderness and affection which children only can exercise towards ...
- Currency war to escalate. If China were to partially back its yuan with gold it would require a gold price of $64,000 per ounce, 50 times gold bullionâs price today, according to a recent article from respected Bloomberg Intelligence. It seems like an outlandish forecast.
It is also required this time of the year to recap the most significant events of the preceding year. This Optimist does not want to break any rules, so here is my detailed summary of 2008. Precious metals and energy prices rose strongly, and the price of gold exceeded $1,000 for the first time ever, in March 2008. Then the price of everything (except U.S. Treasuries!) plummeted to unbelievable lows.