That enables me to compare the price of the Dow from the 19th century right up to the today s close, measuring with an unchanging standard of value. However, when the graph turns down when fewer and fewer ounces of gold are needed to buy the Dow then the trend has turned in gold s favor . Since then, the trend has been down. Recently it completed a secondary and lower peak, confirming that downtrend. Ne er a word.
Every panic is a race to safety , and nothing is as safe as cash .
Today, investors will probably run first to United States treasury bonds or notes. It is even possible that at first a stock market crash might drive gold and silver down. But in truth, even the mighty US bond market offers no safe haven. Foreign-owned money also sits in the stock market. If foreigners pull money out of stocks, that could drive the US dollar down.