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<p>[QUOTE=&quot;InfleXion, post: 1587608, member: 29012&quot;]Some of the charts on the first link use logarithmic scales which I like to add grains of salt with, but I like this one as a pretty good gold indicator. The Y axis (height) does vary between variables, but the ratio between these axes is static (2.5:1) as opposed to expanding such as with logarithmics. So the correlation is acceptable to me.</p><p><br /></p><p><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/07/RS%203_0.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>Cloudsweeper said it perfectly on another thread as to what denotes the mania phase.</p><p><br /></p><p><br /></p><p><br /></p><p>As far as metrics I always defer to real interest rates (inflation rate minus interest rate). Everything else is just measuring things against each other. Possible to do, but more complex to get a signal out of. Of course there is actual inflation (old way of measuring) vs. reported inflation, I think ~9% as opposed to the 2% the Fed is (was) targeting. So determining precisely when real interest rates go positive again requires accurate inflation numbers. I would consider rounding out some of my position in the middle of those two numbers if cash is king+stable. As in interest rates would need to reach something like 5 or 6% by today&#039;s numbers.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>Ultimately I don&#039;t think it matters how many people are holding gold. When it returns to money among central banks we will all just be along for the ride as the balance beams adjust. This is probably more of a gauge of how many people are prepared for the wealth transfer.[/QUOTE]</p><p><br /></p>

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