Sunday, April 21, 2013

Krugman: Gold Does Not Glitter

Blog @ NYTimes

Maybe, just maybe, the gold crash will finally bring intellectual capitulation. But I wouldn’t bet on it.[ emphasis added]

Comment:

For once, Krugman is right about something.  It won't bring intellectual capitulation.  He's right not to bet on it, but wrong to bet on fiat currencies.  History has shown that fiat currencies fail every time.


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