Playing the Fool

How can you help it when the music starts to play?
And your ability to reason is swept away?
--Aaron Neville

If the moronic argument in this article prevails in policymaking (it already has to some degree), then US living standards will fall to very, very low levels. And the price of gold will rise to very, very high levels.

Essentially, the writer is presenting a variation of the Keynesian argument. Last year, a clever video contrasted the Keynesian argument to the Austrian view as championed by Hayek. Round II has recently arrived.

position in gold