So there are three ways out of debt. One is default, which is not a good option. One is growth, but it’s not happening. The third way is inflation. The government has to have inflation. If it doesn’t, there’s going to be a crack-up in the national debt.

But we’re not getting inflation from monetary policy. There’s another option, however. The idea’s been around for a long time, but now it’s being spoken about publicly by elites. That’s to have central banks, whether the Fed or the emerging markets, bid up the price of gold.

A higher gold price will also drive prices in the overall economy higher.