Monday, August 22, 2011

The Lindau Nobel Laureate Meetings

Nineteen Nobel Laureates will be gathering in Lindau, Germany to discuss the world's economic problems.  My guess?  The world's brightest economists will collectively fail in solving our global economic and financial problems because they're all Keynesian economists.   Most glaringly, they don't understand the hazards of compounding debt.

How can I be so bold as to veer away from these intellectually superior economists?  Because they were all blind-sided by the subprime mortage crisis, the resultant financial meltdown, and their blind faith in papering over economic problems with printing more currency.  My proof?

Gold priced in USDollars since 2008 (the Greater Depression), 1971 (the closing of the gold window by President Nixon), and 1913 (the creation of the Federal Reserve Bank).  You pick your time period.

While financial TV anchors fawn over these Nobel Laureate economists, I'll reserve my admiration for Austrian School economists who got it right all along--yet are still ignored by the mainstream media, government economists, and central bankers.  Advocate sound currencies backed by tangible assets, and you'll find yourself blacklisted by the status quo.

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