“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception
Updated forecast from Steve Williams at CyclePro.
Keep in mind that these figures are adjusted for inflation.
Another way to look at this is through the Dow-Gold ratio. Our own forecast is that this measure reverts to the longer term support level of 3.66. Whether this is at Dow 3,660 or 36,660 will help to answer the question: inflation or deflation?
A return to 1.9 for a period of time is also possible.
