I was just thinking, if the 1980 high in gold in "real" inflation adjusted dollars is $6,746 an ounce then we might expect that level to mark the top of this cycle.... but that doesn't take into account the money they will print between now and the top of the gold bull market (and they are going to print a lot).

So, by that logic the top could be a lot higher and the one to one with the Dow could easily be at a level higher than the current level of the Dow. The only limit to where the gold price can go in terms of dollars is the extent to which they can print dollars and we know there is no limit to that. If that hasn't cheered you up enough then think where silver could go at a 15:1 ratio... and then the stocks are levered to metals prices...

Of course if gold is real money and a long term store of value which buys the same now as it did 5000 years ago then you won't get any richer just owning gold. That's why I don't have much gold and prefer silver, because the ratio should contract as the bull market progresses, and have most of my position in stocks, slightly more silver orientated than gold. Times are hard but they're going to get better. SOBs keeping hanging in there.