It has been a while since I have written about GOLD. For that matter it has been a while since I have written about the markets in general. John Hathaway is a personal friend, a lovely human being, and a brilliant investor. Read what he has to say about GOLD and perhaps more importantly, the US dollar. I agree.
The price of gold is more about the declining value of the US dollar, they it is about an intrinsic value of the commodity. He makes some strong claims in this piece including this one about how the government has artificially held down nominal interest rates - "That amounts to outright theft of wealth by government from its citizens and more recently non-U.S. investors." Bottom line - not good. Stay with the piece, it is a long one, but indeed very educational.
No comments:
Post a Comment