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 ANCAPS - Greenspan's Last Bubble Has Popped: Gold

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RR Phantom

RR Phantom

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ANCAPS - Greenspan's Last Bubble Has Popped: Gold Vide
PostSubject: ANCAPS - Greenspan's Last Bubble Has Popped: Gold   ANCAPS - Greenspan's Last Bubble Has Popped: Gold Icon_minitimeSat Mar 22, 2008 9:31 pm
"Greenspan gaveth, and Bernanke hath taken away."

Put a different way: "Ludwig von Mises was right. The Federal Reserve System is wrong." (This rule is always correct – as Mises used to say, with "apodictic certainty.")

I knew gold's decline was near. Also silver's. How did I know? Because I understand Mises' theory of the business cycle. The central bank inflates. This creates a boom. This creates sectoral bubbles. Then the central bank ceases to inflate. The bubbles will pop. The economy will go into a recession.

On Monday, March 17, I posted this article on my website, www.GaryNorth.com: "How to Short Gold and Still Keep Your Gold Coins."

I had asked a specialist in commodity futures to write it the previous Friday. He sent it to me on Saturday. I scheduled it for automatic posting at 12:01 Monday morning.

That article must have seemed strange all day Monday. Gold was at $1,005. In the aftermarket, it rose to $1,029. Then it fell back.

Why did I have this article written? Because I have believed for months that the Federal Reserve's policy of monetary deflation would at last break the commodities market, which I believed had all the characteristics of a bubble. This was the last remaining Greenspan bubble.

Full artlicle here
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