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Yearly Archives: 2014

Fear of deflation guarantees inflation

Fears of financial crises aside, the primary reason for owning gold is as a hedge against inflation, inflation being defined as an increase in the money supply.   As more money is printed, the dollar loses value and prices rise.  A excellent example of this principle is the menu at an iconic restaurant in Phoenix, Durant’s.

Whatever it takes

In July 2012, Mario Draghi, president of the European Central Bank, steadied European money markets simply by saying, “. . . the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.” Apparently, simply promising to do whatever it takes was enough because the ECB had

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