From ArabianMoney.net:Doyen of the gold bugs Jim Sinclair has set readers of his popular website a challenge to come up with the price per ounce that gold will reach if the precious metal is fully monetized. He says the correct answer is $13,644.
Mr Sinclair explains his thinking: ‘Because gold is held by many central banks, once as a reserve currency but now as an inventory currency, it functions as a swing asset to balance the International Balance sheet of the US. Central banks are sellers of dollars but still hold, by default, large dollar inventories......read on
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