“World where currencies are backed by nothing more than a governmental promise to pay while the printing presses whirled uncheck

Published here: http://www.zerohedge.com/news/2015-09-22/%E2%80%9Cworld-where-currencies-are-backed-nothing-more-governmental-promise-pay-while-print

- 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.

Read more on the GoldCore.com blog

 

IMPORTANT NEWS

Gold Holds Drop as Lockhart Remarks Strengthen Rate-Rise Outlook – Bloomberg
Gold retains losses as firmer dollar, stocks dent safe-haven demand – Reuters
Gold settles with a loss as the dollar strengthens – MarketWatch
U.S. existing home sales fall more than expected – Reuters
Russian Billionaire’s Miner Sees Gold Pain as Buying Opportunity – Bloomberg

 

IMPORTANT COMMENTARY

Greece’s new government and the Troika have to face the awful truth – Bloomberg
In 10 years, banking will look like a sci-fi film – The Telegraph
Martin Armstrong Warns “Hell Is About To Break Loose” – Zero Hedge
Why The Big Banks Want Higher Interest Rates – DollarCollapse.com
SILVER INVESTORS: Why The Next Financial Crisis Will Be Different – Silverseek.com

Read more News & Commentary from GoldCore.com

 

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