Citi claims gold is a 6000-year-old bubble, [4] perhaps Mr. Buiter has not seen this chart?
...and funny how Mr. Buiter never wrote any extensive essays about the bubbleness [4] of Citi at any point between 1995 and 2007?
* * *
“A friend asked me to choose one investment that I would want to leave to my great-great-grandchildren. I immediately answered that it would be gold coins. The reason I explained is as follows – corporations can disappear, stocks can collapse, governments can change and they can fall, booms and recessions come and go – but gold is intrinsic money, and no man or nation has ever doubted its value. And they never will.”
Richard Russell
Alan Greenspan [6]
Source: The Burning Platform blog [7], and Bullion Management Group [8] [8]

