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FSN: Gold Does Not Glitter
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
[Ed. Note: This is where we politely point out that the Nobel Memorial Prize in Economic Sciences is funded by banks. I don't see a conflict, do you see a conflict?]
by Paul Krugman
Paul Krugman’s Blog
So, the slide in gold has turned into a rout. As Joe Weisenthal says, this should be seen as really good news, because it offers strong evidence that the goldbug/inflationista view of the world — which says that we need to stop all efforts at monetary and fiscal stimulus lest we turn into Weimar — is, in fact, all wrong.
But Joe is, I think, deluding himself if he imagines that this will make any difference. After all, the inflationista view of the world has been repeatedly, devastatingly wrong on many fronts — interest rates, inflation, the effects of austerity. Has anyone other than Narayana Kocherlakota (who deserves big props for intellectual flexibility) actually changed his or her mind in response?
Continue Reading at Krugman.Blogs.NYTimes.com…
2013-04-15 08:17:00
Source: http://silveristhenew.com/2013/04/15/gold-does-not-glitter/
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