Wednesday, September 23, 2015

Keynes Would Be "Buying Gold Hand Over Fist" Today

"- What Keynes would think of today’s “Neo-Keynesians”
- Unlike his acolytes, he understood the value of gold and the dangers of currency debasement
- Keynes did not desire “a world where currencies are backed by nothing more than a governmental promise to pay while the printing presses whirled unchecked”
- Keynes would have been puzzled that his theories are associated with aggressive currency debasement and a rabid hostility to gold”
- With “today’s economic vista of near-zero interest rates and quantitative easing, it is clear that he would be buying gold hand over fist …”

Richard Hurowitz, an investor and the publisher of the Octavian Report, has written an excellent article in the Wall Street Journal in which he takes to task the “neo-Keynesians” who have used Keynes and his work as a cover for financial and monetary profligacy that Keynes himself would be shocked by..."

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