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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (40755)	11/23/2012 9:27:06 PM
From: Oblivious	1 Recommendation Read Replies (1) \| Respond to of 219403

He was one of my Profs. I didn't agree with him either!!!

To: Wayners who wrote (40755)	11/23/2012 10:26:35 PM
From: Jopps	1 Recommendation Respond to of 219403

I haven't read his book, but I do agree with the premise that there is nothing sacred about Gold, silver, platinum, etc except for their (relative) scarcity. When the price of gold or any other commodity rises, it's evident of the devaluation of the currency, not the rise in value of the commodity. Since gold itself doesn't hold any use beyond an arbitrary store of value, its rise in value is a bit perplexing. As opposed to silver which has many industrial applications, or another commodity such as oil used as fuel. And if the book was written 20 years ago, perhaps we can give Samuelson a break. After all he did miss some of the major fiscal crises caused by fiat currency: 1. Europe in the early 1990s 2. Asia in 1997-98 (and current) 3. Russia and Brazil in 1998-99 4. Argentina in 2001 5. US in 2008-9 (and current) 6. Europe 2009-12 (and current) I do agree with you that his faith in fiat currency was misplaced (though again, I haven't read the book nor plan to). I wonder how any reputable economics textbook could make that mistake. I think you would enjoy this book: amazon.com