Posted Feb 21, 2015 by Martin Armstrong
Here is a video clip from the 1985 World Economic Conference held in Princeton, New Jersey. This is dealing with the inversion process of fundamental analysis at the very beginning of this Private Wave. This is where we were forecasting the birth of the bull market in stocks. Going into 1980, the US Treasury held auctions selling gold trying to manipulate the price down. Instead, the market would get quiet and wait for the price at the auction. New highs at $300 and $400 were seen as confirmations that the “paper gold” futures trading was real. After 1980, any central bank selling gold was taken as bearish. So the same fundamental means nothing. It is the trend that counts for that determines how a fundamental will be interpreted.
(Yes I was skinny back then. Ah, the old old days)