"There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved."
- Ludwig von Mises

Monday, December 13, 2010

All About Gold

I do not intend to give investment advice through this blog, rather, my intention is to chronicle the end game of the current global monetary system.  Gold, however, is part of this blog's thesis as it is my contention that it will once again be part of the new emerging global monetary system.   This will occur most likely as a reaction to the breakdown of the current monetary system, not as an organized, planned replacement of the current monetary system.  The transition will not be smooth.

That said, Charlie Rose just recently had an excellent interview on gold, and its relation to the current global fiscal crisis and the (mis)handling of fiat money by central banks around the world.  His guests are heavyweights:  James Grant, John Hathaway, and Peter Munk.  Many of my views are well described by Charlie Rose's guests.

Click the image below for the interview on Charlie Rose:


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