There is also a very long list of supply/demand arguments which clearly favor gold over (near-worthless) banker paper, but that would simply be overkill. Lastly, do we have any reason to believe that gold is significantly undervalued vs. the bankers' paper currencies? Yes. Even if we embrace naivety and conclude that the thousands of tons of gold dumped onto the market by Western central banks was not intended to suppress the price of gold, as any first-year economics student could tell you it would inevitably have that effect. With the gold-dumping having not only ceased, but reversed, again the basic dictates of supply and demand tell us that the price of gold has only begun its advance. This is especially true once we factor in how much further the bankers have diluted their paper currencies during this bull market for gold. Indeed, once we also calculate the exponential increase in debts and the equally exponential rate of currency-dilution, in absolute terms gold is clearly more undervalued today than when the bull market began more than a decade earlier.