Message 4755928
You know, Fleckenstein may be metaphysicially "right", but he's been an AWFUL AWFUL investor over the recent past.
On the issue of Joe Toms, I've posted that I thought he has a much better read on the M3 situation than chicken-little Edwards. However, I really have to wonder if this is as good as it gets. If the worldwide deflationary pressures truly are understated and washes on our shores, don't we have adequate monetary tools? The Fed has a few hundred basis points to play with, and a sea of non-inflationary dollar liquidity could possibly do a lot of good to this world. To wit, dollarization will impart stability, increase trust, reduce transaction costs, and economically reinforce what is politically true (that we are the world's only superpower).
I'm not a gold bug, but considering how currencies have tended to be mismanaged more often than not, I find the idea that backing up a currency with a real store of value has definite advantages. We ain't gonna return to the gold standard, that's for sure, but how about some dollar diplomacy? |
