JULIAN PHILLIPS: We've been in an up leg since 1971 interfered with by the currency gains and now if you look at that point I made about gold measuring currencies we are watching currencies decay on an almost daily basis now and in fact the Eurozone crisis is bigger and better than it was before and the US management of its own system is rapidly following the way of Europe, namely it could suffer from a hormone deficiency and the net result is, that the price of currencies in terms of gold will continue to fall and the gold price will reflect it.
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