Wednesday “Time-preference is simply the desire to own goods at an earlier date rather than later.” (here) I come across this regularly, and it is important to understand that this is just an observation that is sometimes true, but, equally as often, is not. Imagine receiving a crane delivery of a roof for a house before the walls are constructed. What would … [Read more...]
Arse About Face
Sunday Buying Gold is really selling dollars. If there is fear of economic collapse or war or some other social danger, people sell their currencies for money. Why? Because money is forever. In such circumstances, and for as long as people inhabit this world (or any other), they will always choose Gold. Gold is the one and only money. Even when the theory cannot be … [Read more...]