LLR Pages

Friday, March 14, 2008

The Price of Gold Hits The $1,000 Mark

The Associated Press reports that the price of gold, in relation to the incessant tumbling U.S. dollar due to the U.S. government-created Federal Reserve's saturation of the money supply, has gone up to $1,000.

If the dollar continues to drop at an unabated rate, what will the price of gold be at that point in time? $2,000? $5,000?

The free market will eventually jump in and make adjustments to the situation by allowing more gold competitors to jump into the fray. That will, in return, result in lower prices.

Of course, the only way for that to happen is to abolish the Fed, repeal the legal tender laws, and replace the current monetary policy with one that favors a gold and silver standard.