Wall Street Journal news article on the gold price crash --
Gold bugs proliferated. Steve Forbes, the onetime Republican president candidate, predicted in 2011 that loss of confidence in paper currency would force the U.S. to return to the gold standard after the 2012 election. Peter Hambro, chairman of London-listed Petropvlovsk, which mines gold in Russia, was cited in a British newspaper as saying that a big U.S. bank sent a text message to him in the summer of 2011 saying that, if the Fed unleashed a third-round of money-printing and bond-buying (as it later did), gold prices would hit $5,000 an ounce.
The quote was given to the Daily Telegraph's Ambrose Evans-Pritchard.
Gold bugs proliferated. Steve Forbes, the onetime Republican president candidate, predicted in 2011 that loss of confidence in paper currency would force the U.S. to return to the gold standard after the 2012 election. Peter Hambro, chairman of London-listed Petropvlovsk, which mines gold in Russia, was cited in a British newspaper as saying that a big U.S. bank sent a text message to him in the summer of 2011 saying that, if the Fed unleashed a third-round of money-printing and bond-buying (as it later did), gold prices would hit $5,000 an ounce.
The quote was given to the Daily Telegraph's Ambrose Evans-Pritchard.