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  • Roubini Doesn't Believe in Gold [View article]
    'The gold story is not going to go away anytime soon, though it's not clear whether any economist will ever really understand it.'

    As a longtime goldbug I have engaged in the same arguments with so many iterations of B schoolers spouting virtually the same nonsense about gold that I wonder when we will finally exhaust the supply. They all cling to their monetarist indoctrination, the one they had to regurgitate to pass the test to get their MBA, to wit:

    Gold is a barbarous relic.
    It produces no income stream.
    It is a commodity.
    You can't eat it.
    It's only valuable because we like to adorn women with it.
    Central Banking is the greatest thing since sliced bread.
    Money printing is an OK idea, we're just replacing lost exchange tokens so there's no 'inflation'.

    Economists and B schoolers will never understand it until it runs them over. More for me at a lower price. Hooray!
    Oct 27 07:58 am |Rating: +7 0
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