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- As Dan Kurz of DK Analytics points out, the federal government would have a difficult time even paying the interest on the debt in a “normalized” interest rate environment. http://bit.ly/2imzvbt http://bit.ly/2k7GtkT
- China, as well as other countries including Russia, desperately want to reduce their dependence on the dollar. http://bit.ly/2y4vbEo
- Discussion forum: The Continuing Relevance of Anthony de Jasay | by Christopher J. Coyne (Sept. 3, 2015)
- Top Economists Are Backing Sen. Bernie Sanders on Establishing a $15 an Hour Minimum Wage
- Securing Better Money Through Currency Competition
- Why Are Republicans So Obsessed With the Gold Standard? - The Atlantic
- Science Isn’t Broken. It’s just a hell of a lot harder than we give it credit for. | by Christie Aschwanden. "..headlines that read 'weak, unreplicated study finds tenuous link between certain vegetables and cancer risk' don’t fly off the newsstands.."
- More Fed flops this week. See what new antics they’ve been up to in Fed Up Friday: https://t.co/4mSAvOz3m9
- The last two times the market went down, the Fed bailed out investors who bet on one bubble by inflating a bigger o… http://bit.ly/2ie3NKf
- Looks like my podcast on Friday calling for a black Monday today may have been correct. Those who listened to it are not surprised by what is happening today. Those who watch fake financial news on cable TV are.
Thursday, July 23, 2015
“If You Don’t Own Gold, You Know Neither History Nor Economics” – The Reason For Our Confidence In Gold
What is the reason for our unbroken confidence in gold? Our predilection for gold is primarily based on our understanding of monetary history. At the moment, it appears as though faith in the omnipotence and infallibility of central banks is at an all-time high.
This goes hand in hand with new record highs in stocks and especially government bonds.
According to Jim Grant, who describes the price of gold as the reciprocal of the credibility of central banks, this is inter alia a likely explanation for the somewhat directionless performance of the yellow metal. Should the omnipotence of central banks be questioned by the markets, it could cause a fundamental change in perceptions and help gold regain its former respect and reach new heights.
kingworldnews.com/the-reason-for-our-unbroken-confidence-in-gold