Undeniably true as well by its historical track is the S&P's price/earnings ratio (our "live" read now 49.5x) having always returned to its median (at present 20.4x since the Index's inception nearly 65 years ago on 04 March 1957). Regardless, with the S&P now at an all-time "Santa Claus Rally" closing high of 4726 (thank you record level of stock buybacks), Stoopid is sleeping securely because should the market dip from here, it always comes back, right? Arithmetically that's been undeniably true. Then, too, is "The M Word" crowd: "Churn it and burn it, baby!" Or as Carly Simon might have sung it from back in '71: " Manipulation." Why purchase Gold - as stated just +31% from this day of days 11 years ago - when by merely owning the S&P 500 itself you've recorded a gain over same of +276%? Better still, how about your cryptocrap with its gains of + ∞%? But wait, there's more: How are those NFTs workin' out for ya? (We think of them ultimately as "non-fundable tokens"). 'Course, you regular readers of The Gold Update know exactly what's goin' on out dere. money supply, even as tempered for the duly noted +17% increase in the supply of Gold itself, ought its price nonetheless now be 2747 ? After all, currency debasement is the ultimate, primary driver of price, lagging as 'tis been.įurther by the above opening Gold Scoreboard which comprehensively accounts for 41 years of currency debasement, more than double present price is Gold's valuation today of 4030 ! Thus analogous in reprising the infamous query of immortal football coach Vince Lombardi: "What da hell's goin' on out dere?" Given across these past 11 years the +2.4x increase in the U.S.
Query, (courtesy of the " Fun With Numbers Dept."): ■ The supply of Gold then was 173.7 tonnes today 'tis 202.8 tonnes, (+17%). money supply ("M2" basis) then was $8.9 trillion today 'tis $21.6 trillion, (+2.4x) ■ The price of Gold then was 1379 today 'tis 1810, (+31%)
The last time 25 December arrived on a Saturday was 11 years ago in 2010: With but five trading days remaining in 2021, Gold - as we'll show - traditionally is the gift that keeps on giving into year-end. Christmas Greetings to Everyone Everywhere.
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