Friday There is a plethora of articles on the many Gold websites about how Gold and silver are about to take off – by which, they mean, about to go up as measured in dollars or some other currency. It is unwise to sit agog, waiting for this to happen. Gold, when monetised as a known weight and fineness, has a totally unique stability of value and is hence the measure … [Read more...]
Gold Speculation?
One of only two economists that I read wrote this week about the volatile moves in Gold’s price being caused by rampant speculation. I understand that he knows better, and was using the terminology for ease, but it serves to perpetuate a gross confusion in the area of money. Gold is never bought and sold. It is always currencies that are being sold and bought. Though we … [Read more...]