Gold priced in USA dollars would look much the same if the USDX exchange rate was comparably dropping like a rock against other currencies. Actually the value of gold has had little change (but with a small upward bias) over the previous few months as shown in the chart below of the US$ price of gold times the USDX exchange rate. The chart would have the same shape (but with a different scale) if you plot the price in Canadian dollars times the Canadian exchange rate on a semi log chart.
I think it may take up to 3 years, but yes, more than double in CDN dollars
A bit of consolidation up and down, the major break out is not until gold moves up in all Fiat currencies.
like weatherman correctly pointed out, the strength now is a rapidly falling CDN dollar (which is interesting in direction), that's not good enough yet to confirm wave 5 has started.
My point is monopoly money is only demanded when one is actually playing monopoly. The demand for dollars gives it its value, the IRS demands payment in dollars, lots of debt out there is denominated in dollars. So comparing monopoly money to USD is a little ridiculous. If all we were fighting against was monopoly money, we would have won a long time ago.
We predicted that the best way to trade the upcomingCommodity/Copper/China Collapse is by going long Glencore CDS, the equivalent of shorting Glencore bonds (and implicitly stock).
Back then the CDS was at 170bps.
Less than two years later, going long Glencore CDS may have been the best risk/return commodity trade in the world, as over the weekend GLEN CDS blew out to new post-crisis highs of 1,128 bps, nearly 7 times wider than the 170bps from March 2014, but more troubling is that Glencore's 2021 bonds just hit a 5 year low, taking out the September crash levels, and trading at about 64 cents on the dollar. These are currently rated "investment grade" by the less than credible rating agencies.