- What Keynes would think of today’s “Neo-Keynesians”
- Unlike his acolytes, he understood the value of gold and the dangers of currency debasement
- Keynes did not desire “a world where currencies are backed by nothing more than a governmental promise to pay while the printing presses whirled unchecked”
[6]
- Keynes would have been “puzzled that his theories are associated with aggressive currency debasement and a rabid hostility to gold”
- With “today’s economic vista of near-zero interest rates and quantitative easing, it is clear that he would be buying gold hand over fist …”
[7]
Richard Hurowitz, an investor and the publisher of the Octavian Report, has written an excellent article in the Wall Street Journal in which he takes to task the “neo-Keynesians” who have used Keynes and his work as a cover for financial and monetary profligacy that Keynes himself would be shocked by.
This must read article is available here [8] (paid subscription required).
DAILY PRICES
Today’s Gold Prices: USD 1129.30, EUR 1009.11 and GBP 729.66 per ounce.
Yesterday’s Gold Prices: USD 1136.85, EUR 1007.27 and GBP 732.86 per ounce.
(LBMA AM)
Gold in EUR - 5 Days
Gold ended with a loss of 0.5% and fell to $1.133.20 per ounce yesterday while silver rose 4 cents to $15.19 per ounce. Gold in euros is testing recent resistance at the €1,115 per ounce level and has reached its highest in nearly three weeks today.
In Singapore, gold bullion ticked a little higher and maintained those gains in London, hovering just below the $1,135 per ounce level. Silver prices are 1% lower to $15.10 today, while platinum and palladium are lower too.
Read more on the GoldCore.com blog [9]
IMPORTANT NEWS
Gold Holds Drop as Lockhart Remarks Strengthen Rate-Rise Outlook – Bloomberg
Gold retains losses as firmer dollar, stocks dent safe-haven demand – Reuters
Gold settles with a loss as the dollar strengthens – MarketWatch
U.S. existing home sales fall more than expected – Reuters
Russian Billionaire’s Miner Sees Gold Pain as Buying Opportunity – Bloomberg
IMPORTANT COMMENTARY
Greece’s new government and the Troika have to face the awful truth – Bloomberg
In 10 years, banking will look like a sci-fi film – The Telegraph
Martin Armstrong Warns “Hell Is About To Break Loose” – Zero Hedge
Why The Big Banks Want Higher Interest Rates – DollarCollapse.com
SILVER INVESTORS: Why The Next Financial Crisis Will Be Different – Silverseek.com
Read more News & Commentary [10] from GoldCore.com
[11]
Download Essential Guide To Storing Gold Offshore [11]