Tim Price: Hang 'em high
Comment of the Day

August 20 2012

Commentary by David Fuller

Tim Price: Hang 'em high

My thanks to the author for his splendidly original letter, published by PFP Wealth Management. Here is a brief sample:
Our rationale for the monetary metals and especially gold is simple to articulate and, we think, easy to justify. The banking insanity of the last four decades or so is only another manifestation of a broader dash towards monetary insanity, as governments, freed of any real constraints over currency or debt, issued endless amounts of both. So much debt has now been accumulated, it requires constant economic growth simply to service the debt. Now that the western economies at least appear to have gone ex-growth, that only leaves two possible outcomes: outright default, or inflation. Which do we think is the more politically palatable of the two ?

David Fuller's view If this paragraph interested you, you will like the rest of Tim Price's letter.

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