– What Keynes would think of today’s “Neo-Keynesians”- Unlike his acolytes, he understood the value of gold and the dangers of currency debasement- Keynes did not desire “a world where currencies are backed by nothing more than a governmental promise to pay while the printing presses whirled unchecked”– Keynes would have been “puzzled that his… Read More »
On June 3, 1975, Fed Chairman Arthur Burns, sent a “Memorandum For The President” to Gerald Ford, which among others cc:ed Secretary of State Henry Kissinger and future Fed Chairman Alan Greenspan, discussing gold, and specifically its fair value, a topic whose prominence, despite former president Nixon’s actions, had only managed to grow in the… Read More »
â€œGold rallying is a recognition that virtually every large economy in the world is reflating. Itâ€™s a situation where a lot of money is being pumped into the financial system and every country in a race to the bottom with regards to their currencies. Interestingly, gold is moving higher with the yen moving lower. Of… Read More »
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