Inflation adjusted gold price 1720 - 2012. Website for this image
According to Thomas Pascoe, in his Daily Telegraph blog on 11 July 2012, the price of gold has been manipulated.
1. With the dollar looking weak, the gold price should be rising high.
The fact that the gold price has not been shooting up, suggests manipulation.
2. If there is an expansion in the economy, it is OK for a government to print more money.
But, governments have been printing lots of money to finance wars, to bale out corrupt banks, and to make welfare payments to a huge number of people who have become unemployed.
3. However, gold could peak in 2013 after its 12-year bull run: Reuters
The annual rise in the price of stocks and shares (equities) over the past 6o years has been 6.7 per cent.
Malaysia introduced capital controls.
Singapore organised huge market interventions.
Korea had a 'virtual shutdown of international banking'.
In all three countries, GDP was higher three years later than it had been before the crash.
4. Ned Naylor-Leyland, investment director at Cheviot, a British investment firm, had the following to say on CNBC: