tim price

http://www.thepriceofeverything.typepad.com

3 Comments

    • Don't Just Do Something, Stand There [view article]
      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 ? Aug 08 07:20 PM
    • Don't Just Do Something, Stand There [view article]
      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. Aug 08 07:12 PM
    • The Myth of Gold as an Inflation Hedge [view article]
      The tone of the piece suggests that investors can EITHER invest in gold (an asset whose value is not contingent on anybody else's ability to pay and which even Alan Greenspan has conceded, in extremis, still represents the ultimate form of payment, while fiat money is accepted by nobody) OR in stocks and bonds, but not both. So much for a balanced portfolio. For sure, speculators seem to have been taking profits (and/or paying for other leveraged losses) in recent weeks by selling gold. But some of us are perfectly happy to own an asset that has been a store of value for over 2,000 years. That puts the acknowledged volatility of one month or even two-and-a-bit decades into a somewhat broader perspective. Particularly when most international banks are probably technically insolvent, and their shareholders should be unsurprised when they are diluted out of existence. Apr 02 10:57 AM
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