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Ron Ensana also calls for $800 gold
- Thursday, November 13 2014 @ 02:42 pm EST
- Views: 3,034

"While it's true the nation's money supply has ballooned, along with the Fed's balance sheet, and other broad measures of money, the velocity of money (the speed with which money circulates through the economy, continues to fall. That is a factor that restrains inflation and augurs poorly for gold going forward. While gold might be good for a trade, if the dollar pauses from its recent, and rapid, ascent … to me, the longer-term view remains bleak."
If nothing else, the comments section on the CNBC article is a fun read. Ensana does not have many fans amongst the gold bug crowd.
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