Were gold exhaustible mainly through teeth loss, I would think that the loss were rather small, as few people historically would have had gold crowns in the first place, and many of those would have been recycled anyway; but maybe I am wrong about that.
What I found of interest is the perhaps obvious point
(about globalization's 'profitability outcome' in my view,
rather than just about the price of gold):
Investors realize that what Krugman calls the Lesser Depression will depress returns on investment
(and thus also interest rates)
for a long time to come.
How long is a long time?
How about 'forever'.
Whether his avowedly deflationist account of the gold price is right or wrong or just partial, that is the big point.
(Higher interest rates, in some places, (exported inflation) more a measure of risk than of 'reward'.)
Terms search, eg: inflation deflation
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