Tim Price

Don't Just Do Something, Stand There

I should now perhaps add that there are probably few things worse, in my opinion, than a fiat currency in whatever form. The US Dollar lost 98% of its real purchasing power during the last century. This crisis ends poorly, particularly for taxpayers. Happily for owners of gold, they don't pay taxes, to the extent that there is no government of Gold, and no region of Gold. When will people wake up to the broad theft of the commons that bailing out Wall Street & the City represents ?

Don't Just Do Something, Stand There

Unfortunately, Muffy, you have missed the point of my "headline". I am not advocating that investors "just stand there" - rather, that administrators (your Fed, my Bank of England) just let well alone and allow the markets to do their job. Equally unfortunately, I suspect that neither party will be able to. That leaves us, obviously, to manage our capital and portfolios as best we can ourselves.