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overtheedge
Member since May 2012
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Reader Question: Is Gold Manipulated? - Mish - Global Economic Analysis

"Even though I was on the right side of the inflation/deflation debate, with hyperinflationists and death-to-the-dollar advocates looking extremely foolish along the way, ..."

Ah yes, so far so good and all it took was redefining a few words by accepting the drivel peddled by Irving Fisher back in 1933.
Currently inflation and deflation are all about debt/collateral issues and not the amount of currency as it was in the past.

Of course this demands that the definition of hyperinflation MUST be about the same debt/collateral issues.
And herein is the problem with adopting new definitions.
If inflation is an increase in debt supported by the appreciation and increase of collateral, then hyperinflation must be a spectacular appreciation in the value and amount of collateral supporting a spectacular increase in debt.

There is no net cost to my being wrong about hyperinflation and the loss of confidence in fiat currency; there is only being seen as foolish. I find that outcome acceptable versus the alternative outcome of failing to plan/prepare for a hyperinflationary event that actually occurs.
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I contend you are right on the money about the subject of manipulation.
Claiming manipulation is far more emotionally satisfying than admitting personal failure to read the investing environment correctly.
Everyone manipulates the market in their own self interest by participating.
The larger the pocket, the greater the effect.
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I do appreciate your articles.

Commented 3169 days ago

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Beginning of the headline :Reader Matt writes ... Hello Mish, I love your blog. I read it every day. You are my non-conspiratorial viewpoint on the economy. Your work keeping an eye on and analysis of Greece lately has been very helpful to me in understanding the way of the world. One thing I seem to recall with your previous posts is that in general you don't think gold is manipulated like all the conspiracy advocates say it is. I was recently reading this article that makes me question your viewpoint on that. Perha... Read More

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