“The last refuge of scoundrels is their blind insistence that all data points must be adjusted for inflation.”
In October 2009 in “Gold (inflation adjusted)”, Barry Ritholtz told us:
“While everyone seems to be all abuzz over Gold’s new highs, you should be aware that these are nominal, not real highs.
“Adjusted for Inflation, Gold is nowhere near its all time peak — in real terms, its only about half its prior highs”
This one’s for you, Baz:
UPDATE: Ritholtz replies: