“Consider what happens when individuals barter with each other,” he said. “A baker trades a loaf of bread with the farmer for a dozen eggs. A tailor trades a suit of clothes for a cow. A migrant worker trades an afternoon’s labor for a meal and a place to sleep. Is a ‘trade deficit’ possible in any of these cases? Could there be a deficit if, say, a shirt maker in China trades 1,000 shirts for 100 barrels of oil from, say, some producer in Texas?”

“Obviously, no. A gives something to B in exchange for something else and both get what they bargained for. No deficit is possible.”

“So how is it that when the farmer, or the migrant worker, or…

History tells us that gold is the “ultimate antidote to fiat money” says John Pugsley. He says gold’s dollar price relative to other goods is now higher than the long-term trend. But no one really knows how much the buck has been inflated in recent years. And as price inflation returns “with a vengeance”, the gold bull run should resume.

John Pugsley says there are some great opportunities coming out of this chaotic market. Wild, irrational swings are distracting from the simple rules of value investing. John has three simple criteria for finding the best long-term profit opportunities out there today.