During the 1970's the US and Canadian federal debt was
almost non-existent.
 

Money supply was less than today's current annual increases.

Consumers had significant savings instead of huge debt loads.

Dangerous, unpredictable derivatives were unheard of during the 1970's.

There were no stock price bubbles like we have now.

The price earnings ratio of stocks was just 12:1 as opposed to 45:1 today.

Foreign investors did not hold a significant part of US assets.

The US was not dependent on foreign oil production.

US dollars were not widely circulated outside US borders.

The US had no trade deficit unlike record topping deficits in 2002.

US agriculture and industry were competitive in world markets.

The world's second largest economy, Japan, was not about to implode.

A terrorist attack on US soil was unthinkable.

There wasn't a build up of a huge short position in gold & silver.

Mining companies were not hedged heavily against future metals prices.
 

"Those entrapped by the herd instinct are drowned in the deluges of history.
But there are always the few who observe, reason and take precautions, and thus
escape the flood. For these few gold has been the asset of last resort."

- Anthony C. Sutton
 

In 1971 Richard Nixon halted gold convertibility in response to
a massive flight out of the US dollar. The confidence in the US
dollar was shattered causing a tremendous increase in the price
of precious metals.

At that time the price of



Gold was $35/ounce

Silver was $2/ounce

Platinum was $103/ounce

By 1980 the price of Gold increased 23 times to
$800/ounce

Silver increased 25 times to $50/ounce

Platinum increased 9 times to $900/ounce

If that were to repeat today:

Gold would increase to $6,325/ounce

Silver would increase to $100/ounce

This site is also a repository for critical charting information,
such as the price of Silver over the last 20 years...

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