from Schiff Gold
This summer, Peter Schiff and Jim Rickards discussed the possibility of $15,000 gold. In a recent interview. economist Rafi Farber took this line of thinking to the next level, arguing the dollar price of gold could eventually hit infinity – meaning simply that the value of the dollar will go to zero.
During the interview featuring Schiff and Rickards, Peter said the world is ultimately going to sever its relationship with the dollar. It will go off the dollar standard and back on the gold standard.
And I think this is going to be a more precipitous drop in the dollar’s value than it was in the 70s, so we could see something equally impressive in the price of gold.”
Rickards was willing to put a number on it. He projected $15,000 gold by 2025. He extrapolated some data to make his point. And he showed that given the M1 money supply in dollars, euros, pounds, yen and yuan – if you divide it by the official amount of gold, you get about $15,000 per ounce.