Courtesy of Antal E Fekete @ Professor Fekete.com and as ever, he has a point:
This rejoinder was prompted by the Daily Bell interview with Bill Murphy of GATA (March 30, 2014).
I shall accept, for the sake of argument, Murphy’s premise that the dollar price of gold is heavily manipulated by the U.S. government in order to keep it in check. But while Murphy thinks that it is a great curse I shall argue, tongue in cheek, that it is a blessing in disguise. The difference between Murphy’s thinking and mine is the difference in financial survival strategies in the face of the U.S. government’s deliberate policy of destroying the dollar and, along with it, the savings and pension rights of people, to say nothing about destroying the world economy.
Apparently Murphy believes that there is only one reasonable investment strategy in gold, namely, buy and hold in the…
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