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Deficits Without Tears

IMG Auteur
Published : November 21st, 2012
151 words - Reading time : less than a minute
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Every so often, I come across an article – in and of itself – deemed “RANTworthy.” Below is one such piece; by none other than publishing magnate Steve Forbes, whom for years has been a vocal proponent of the gold standard…

Gold and the Wicked Magicians

In it, he demonstrates why past societies have thrived under the gold standard – and floundered without it. In essence, government hates REAL MONEY due to constraints it imposes on spending; and thus, power.

Without such constraint, Central banks can for some time perform what is temporarily deemed “financial alchemy”; and consequently, create the illusion of “DEFICITS WITHOUT TEARS.” Of course, the operative word is temporary; as the ultimate monetary result is ALWAYS the same; i.e., FEAR…


I could pen all sorts of background commentary on the topic, but sometimes an article says it all – single-handedly.




Companies Mentionned : Gold |
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Andrew Hoffman was a buy-side and sell-side analyst in the United States (including six years as an II-ranked oilfield service analyst at Salomon Smith Barney), but since 2002 his focus has been entirely in the metals markets, principally gold and silver. He recently worked as a consultant to junior mining companies, head of Corporate Development, and VP of Investor Relations for different mining ventures, and is now the Director of Marketing for Miles Franklin, a U.S.-based bullion dealer.
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