the humble scribe

Porter Stansberry: Gold 'Nowhere Near the Top'

''I don't think it would take very long at all. And in reference to a de facto gold standard, you can look at the European Central Bank. Of all the central banks in the world, it's really the only one that has been reducing the size of the balance sheet over the last couple of years. It's doing so because the Germans, in particular, have a memory, a recent history, of hyperinflation. They greatly fear hyperinflation so they're keeping the balance sheet relatively sound compared to the others.''

Having said this how can you say further down:

''There's no doubt that when the dollar really begins to crack, when China comes out and says they're going to sell a trillion dollars worth of Treasuries and they're going to buy gold, and the price of gold goes to $10,000 an ounce and you get three Euros to the dollar, you're going to see emergency measures to support the dollar.''

When will we ever be able to get three Euros for the dollar if the European Central bank is doing the right thing by reducing its balance sheet.
Could it be that you meant when you need 3 dollars for one Euro?

Barrick Gold Confirms We've Reached 'Peak Gold'

The title of this blog is misleading in that it implies that gold has peaked in price. If the easy to reach gold is no longer available then I suspect that to the contrary, gold is very far from having peaked.