Lessons of the American Lost Decade – Part I: The gold bugs were right

A great piece. Done in the context of debunking Martin Feldstein and Nouriel Roubini's breezy, dismissive appraisals of gold. Example:

Roubini does not provide evidence to support his argument that gold is currently a bubble, never mind one that is large or about to break. He does not establish causality between gold price moves and interest rate changes, or between gold price movements and recent financial market and economic events. He has made several gold price forecasts since 2008 that have failed to materialize.