This is the starting-point for understanding the true relationship between paper currency and gold, now that gold is no longer circulating as money.

Gold is 36% undervalued considering the growth in fiat money quantity since the collapse of Lehman Brothers.

The Fed showed through its FOMC statement yesterday it has little control over events, something that should dawn on markets in the coming days.

It has been a difficult week for the precious markets as gold dropped by 3.2% and silver by 3.9% which means that gold and silver are now back to price levels last seen in July and August respectively. 

Turk will now have time to work on his book.