Avarice is never appeased. Greed is never satisfied and the fires that Ayn Rand inflamed will not
subside until the house that fanned them and gave them shelter burns to the ground.
- Darryl Robert Schoon
The bankers' 300-year old paradigm of credit and debt is collapsing. Its collapse, however, is coinciding with the passing of a far older and far more fundamental paradigm - gender inequality. Yin and Yang are coming into balance.
DRSCHOON.COM features the articles of Professor A. E. Fekete of the New Austrian School of Economics, a leading expert on gold and its role in financial markets and the economy.
Gold Backwardation and the
Collapse of the Tacoma Bridge
THE DAILY BELL INTERVIEW
with Professor Antal E. Fekete
of the New Austrian School of Economics
May 5, 2013
Q. Nice to speak with you again. Let’s jump right in. Why is the price of gold declining?
A. Columbia University professor Michael Woodford, the world’s most closely followed monetary theorist said recently that if we are going to scare the horses, might as well scare them properly. He said it in an allegorical sense: loose talk about ending QE and about exit strategies are amateurish. Telling the world that central bank financing of the public debt is here to stay and that QE is forever, is professional. The allegory can be extended from fiscal policy to monetary policy as well. The demand for dollars is waning spectacularly due to its unprecedented debasement that, to add insult to injury, is done with great fanfare. The price of paper gold was declining in April because Bernanke now thinks it’s time to scare the horses properly. They have strayed too far afield to graze. They should get back to the dollar turf. full article...