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Posted by Jim Ritchhart on 4/12/2009 10:49:16 AM
I greatly enjoyed your interview with Pat Gorman and thought it covered a lot of territory. My one question with it is with his predication of the final Gold and Silver price. Most people I've read look at the Gold / DOW ratio and say that, at the end of this bull run (for metals), the ratio will be 1:1. That says that Pat's prediction of Gold at 4,575.00 would have the DOW at 4,575 also. (Which I could agree with). However, the silver price is then calculated at a final Gold/Silver ratio of around 15. Pat's silver price puts the final ratio at 45. At a ratio of 15, silvers final price would be over 300$/oz. I'm curious as to how Pat gets to 4,575 gold and 100 silver.
Thanks much
Reply from the Daily Bell:
They may simply be best estimates. We will pass along your inquiry.
Posted by Douglas Miller on 4/12/2009 10:52:26 AM
Once again Pat Gorman shines. His ability to synthesize commonly misunderstood concepts and make them readily understandable for the masses is his true genius. His smallish book entitled "The Value of Honest Money" is proof positive of this skill. In my library this book sits proudly next to massive works such as Human Action by Mises and Man, Economy and State by Rothbard. Mr. Gorman is a brilliant beacon in a dark world. Cheers.
Reply from the Daily Bell:
Pat Gorman sends his thanks for your kind words.
Posted by George on 4/14/2009 11:13:45 AM
OK, so you buy physical gold, eg American Eagles, and the "worst" happens. Where do you go to exchange your gold for currency to buy groceries, pay bills, etc? Can you give an historical example of where and how this actually worked? Thank you.
Reply from the Daily Bell:
Gold and silver have been exchanged throughout history for goods and services. In the event that fiat money became worth very little, or "worthless" it is likely that commerce in gold and silver would arise simply as a marketplace phenomenon.
Posted by D Cox on 7/30/2009 11:51:26 AM
The way to start the day off: a morning cup of coffee and the Daily Bell. The first to wake up, the second to get a thoughtful analysis and truth (as much as we can find out) about the world economic situation.
Reply from the Daily Bell:
Thanks for reading.
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