I'd love to get Greenspan alone and ply him with drink, and discuss when and how he was seduced away from his 1966 clarity.
What he said about the credit induced boom of the 20s leading to the crash and the depression is about to be repeated.
Hi Trav,
I see where the price of gold is going up because the Russian Central Bank has decided to raise its reserves from 5% of its assets to 10 %, and that change means they will require about 300 Tons more gold. That represents about 3 years of the gold output for the Soviet Union. World wide gold consumption is between 4000 - 7000 tons annually for jewelry, with SA producing the cheapest gold, selling Krugerands for the spot price, all other coins have a coinage markup. The next hi-point for pricing gold will be about 510 in early December, then about three weeks later you will see a correction to about 475. I've studied the trends for a few years now, and somebody is running the market in a way where the movement is complex but predictable. Funny.