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Our lead story: Citigroup Chief Economist Willem Buiter pointed a loaded gun at gold lovers everywhere when he said the precious metal is in a 6000-year bubble and likened the commodity to…
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Our lead story: Citigroup Chief Economist Willem Buiter pointed a loaded gun at gold lovers everywhere when he said the precious metal is in a 6000-year bubble and likened the commodity to…
Awesome show there, Mr. Edward Harrison & Mrs. Erin Ade.
Citi Bank and many of the worlds central banks seem to want Gold. Go figure.
Citi prefers fraud as a lower risk investment. Interest rate derivative
anyone?
Great episode especially Big deal segment, go Erin & Ed!
Funny, growth in Australia, one of the G7 is .03% I see the world economy
as sick and anemic especially the US with a record $18,000,000,000,000,000
debt! How big is your pie m m mmmm!
Gold will always and forever be the premier medium of exchange. Because it
can not be inflated plus it does not require a third party guarantee. Fiat
can easily be inflated and is only as good as the reputation of the
printing government. Fiat can never hold those properties. I will however
agree the price can literally be anything. It is worth whatever someone is
willing to pay for it. Thus, the comex price is absolutely useless. The
seller must be willing to sell at the determined price as must the buyer be
willing to pay the determined price. If there is no agreement, it matters
not what a third party claims is it’s value. Gold’s value is more complex
than simple supply and demand.
David Henderson seems like an interesting person.
Would you expect anything less from a banking cartel affiliate who
deliberately manipulate Gold and Sliver to prop up their Phoney Currency??
Gold is GOLD!!
I really think most economists have a serious problem. They never seem to
know how to simply say ‘I don’t know.’ when they have NO CLUE what they are
talking about! :P
1:11 – *”Gold is in a 6000 year bubble”* – Buiter, Citi Group Economist
It should be a fundamental axiom of traders, investors and economists that
that which is persistent is likely to persist, and that which diverges from
the mean is likely to return to its mean.
The mean of every contrived currency, including US dollars and bitcoin, is
zero. The mean of gold, based on millenia of price data, is something north
of zero.
In 6000 years it is all but guaranteed that the value of US dollars will be
nothing. In 6000 years the value of gold will probably be around where it
is today.
When the value of something is steadfast for thousands of years it cannot
rationally be described as a “bubble” but a *fair price*, the result of
numberless years of price discovery among untold numbers of peoples in
myriad tribes, kingdoms and nations over countless generations.
great show erin