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Originally Posted by slang
Gold is kryptonite to the dollar. The higher the price of gold goes, the less people think of the "dollar promise". The more that they see inflation. Those same people want something they control. They want gold.
Do you remember when gold was around $275 an ounce? I do. The currency supply was much lower then.
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It's also important to remember the 40-ish years when gold was illegal to own in the United States.