Gold is Not a Bubble: It’s going to $10,000
Gold is not a financial asset to be compared with dot-com stocks or Miami condos and it is not a commodity like pork bellies or crude oil. It is the ultimate currency for the truly sophisticated wealth holder in a time of substantial unreserved credit promotion.
Gold is not rising in value—currencies are losing value against gold. This means that gold, as money, can appear to rise in value as far as currencies can fall. In light of this, we can look at three features of gold’s rise that tell us it is not only, not in a bubble, but unless current monetary policy is drastically changed, it will almost certainly rise to $10,000 an ounce and beyond.
These features are:
1. The loss of purchasing power of global currencies
2. The inflationary effects of money creation
3. Irreversible trends will continue to cause gold to rise
— Paul Brodsky (Fund Manager) QB Asset Management in an article he had written earlier this year.