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true, but funnily enough so did construction costs, so it must be a weighted average or something,because duringthe sametime contruction prices should have risen.

thats one way to look at it, i guess. land generally does well in inflationary times, im only rhyming with history here. i see the current situations in housing as a bear trap. i mean, many, many people are saying gold is about to go parabolic, yet a look at kitco suggests it already has.

you are spot on about deflation. this is why ive been saying that property is due for a huge crash 2020-2025. anyone buying now will probably be fine, because inflation between then and now will be massive. i expect the gold backed SDRs to come into effect around then. its those buying after...

.....and the US Fed still value their gold at $37/oz or something silly like that.

the US dollar wont be removed, but it may devalue as oil rich countries accept a wider range of currencies for oil. russia is accepting yuan, euro, sgd for oil -so is iran, china, venezuela and soon japan. they're not stupid enough to say "no more usd, please" like saddam did, rather they'll...

but while gold is still traded for fiat, its price will remain manipulated.

the gold price (and silver) and its market is one of the most heavily manipulated markets in the world. because if it weren't, GLD wouldnt have broken 158 while physical traded above 1640/oz.

great article, shadow. one i have been arguing for, for a long time. when the IMF underpin international SDRs to gold, you will understand the power of gold as a medium of exchange.