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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.

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Commodity Currency Demand God Gold Jewelry Thrust Unlike

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Any informed borrower is simply less vulnerable to fraud and abuse.
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These days, even out of office, I still read economic reports.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Gold Insidious Process Properly Right Stand
We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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How do we know when irrational exuberance has unduly escalated asset values?
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Excessive optimism sows the seeds of its own reversal.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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Commodity Currency Demand God Gold Jewelry Thrust Unlike
But rules cannot substitute for character.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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