Keynes Would Be "Buying Gold Hand Over Fist" Today
Commodities / Gold and Silver 2015 Sep 22, 2015 - 12:22 PM GMTBy: GoldCore
- 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”
- 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 …”
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 (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.
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Mark O'Byrne
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WINNERS MoneyMate and Investor Magazine Financial Analysts 2006
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