Central bankers dismiss gold as a relic, even as they buy up more of it. Politicians dismiss gold as money they don’t control and can’t expand. Holders dismiss gold as outdated tech. And investors dismiss gold as a static metal paying no yields.
So why does gold still matter? Why does it hold value over millennia? Why does it threaten inflationist governments? Why does it seem to be flowing West to East? Why does an ounce of it still trade for more than $1,000, if the critics are right?
Keith Weiner recently joined me on the Human Action podcast for a fantastic discussion on everything related to gold. Keith uses his tremendous knowledge of history and monetary economics to refute the “Fed bugs,” including the DC libertarians, who think central banks can manage money.
3:26 pm on December 10, 2019 Email Jeff Deist