Gold Silver Worlds | November 29, 2013 |
Isn’t it strange? We are living in the 21st century, a period of time in which people buy land on the moon, humanity has dozens of satellites providing GPS services and real time traffic information, internet brings people and information as close as one click, science and technology are making historic break throughs … but economists cannot agree on the real cause of the latest financial crash (2008).
Generally speaking, there are two schools of thoughts when it comes to diagnosing the 2008 crash. One is based on free market principles and is detailed in Austrian economics. The other is based on central planning and is centered around Keynes (hence, Keynesian economics).
As noted by Barrons, journalist Jeremy Hammond had the ingenious idea of contrasting the Austrian, free-market school of economics with the Keynesian, pro-government school on the recent financial crisis through a close examination of the words of two commentators: former Congressman Ron Paul, schooled in the Austrian perspective, versus the Nobel Prize–winning Keynesian and New York Times columnist Paul Krugman. You might think a mere politician would be no match for a Nobel laureate, but in this case, think again. As forecaster, diagnostician, and prescriber, Ron Paul offers rich insights, while Krugman, true to his Keynesian perspective, gets things wrong at virtually every turn.
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In September 2011 the Gold Bugs index, the HUI stood at 630 as gold prices peaked, since then both have trended lower with the HUI losing about 65% of its value. The bottom has been called a number of times and after such a dramatic decline its difficult not to think that we are there now. However, as we all know the timing of any investment is crucial to its success and that is exactly what we are trying to do here, trying to pick advantageous entry and exit points. If you would like to know which stocks we are buying and selling please join us at ‘Stock Trader’ our premium investment service.
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