The Dow in Gold

September 1929
December 1965 (36 years)
July 1999 (34 years)

February 1933
February 1980 (47 years)

Intermediate lows
Nov 1974 Nixon impeachment followed abandoning gold
Sep 2011 (37 years) deflationary nature of QE sets in

Intermediate peaks
Aug 1976 (21 months)
Sep 2018 (7 years)

My view has been this is a higher-order event with lengthened cycles. I still think we're pointing to a 2030s low in the Dow-Gold ratio. The 2030s is when I expect the dollar inflation or loss of reserve status will bottom out.

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