Buiter, like Greenspan, is a punk. After bashing gold 2 years ago, he now articulates its monetary value. Both he and Greenspan are flip flopping, although Buiter is insufferable. Even though he is now right, he's still wrong on some of the reasons for why he is bullish on gold. At least Greenspan is somewhat predictable, understanding the value of gold before and after holding his position as Fed Chairman. It was during his tenure as Fed Chair that Greenspan was predictably sour on gold.
With Buiter, he's acknowledging his ignorance for gold, and yet this clown is paid millions to be Citi's Chief Economist? Here's a thought: if this incredulous gold skeptic is now reversing his opinion, perhaps this foretells the next big leg up in gold and silver. Are the financial elite panicking and ready to throw in the towel?
3 years ago