Messrs. Quaintance and Brodsky of QB Asset Management have been advocating a revaluation (monetization) of gold by the Fed and other central banks as a solution to their unsolvable current situation. As they point out, there is never a good ending to monetary expansion and debts which governments cannot ever repay. Gold [...]
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[Several] weeks ago, before Jamie Dimon’s thoughtful diversion, Charlie Munger of Berkshire Hathaway instructed viewers of CNBC that “civilized people don’t buy gold, they invest in productive businesses”. Munger was right in that civilized people invest in productive businesses and was right to imply that gold is a non-productive rock, but, in our humble opinion, [...] |
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