``... you can now purchase gold below $20.67, below $35 and below $256 when adjusted for the monetary base outstanding! The monetary base has grown and grown for 100 years, it has exploded in the last 8 years.'' -- What has really kept a lid on the price is the pretense that all the central bank printing is "sterilized", or will otherwise be "unwound"; but as they simply up the QE/ZIRP/NIRP "medicine" at every opportunity to unwind, it is apparent now that they will never reverse the printing. So it's time to consider the expansion of the monetary base as money actually, and permanently printed...

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