Buddy Larsen: For fundamentals of our overall situation, the best ratio is Double Eagle to Peacemaker.

In the beginning, Double Eagle was $20, Peacemaker $16. The latter stayed at 80% of former into the 1980s. (exception to policy:
a couple of run-ups in gold price that proved temporary).

Then in the mid to late 80s, things got reversed. The Double Eagle declined to be worth but 80% of the Peacemaker. Reason: The use value of the coin declined and the hoard value no longer inspired purchases. The old thumbuster still performed as it always had.

In recent months, gold shot up to make the two equal in price. Latest reports say we are back to normal. The spiking of all commodities looks more like nervousness to me, not (as some have claimed) a result of generalized currency debasement.

So like they say in Fort Worth: Don’t put too much faith in long hair, you might be selling Luke,short.