http://www.foreignaffairs.com/articles/142114/alan-greenspan/golden-rule Greenspan talks up the value of gold as a backstop in a nation's reserves.
Same things Greenspan said before he was Chairman of the Federal Reserve. Greenspan may have been a disciple of Ayn Rand, but he is definitely a hypocrite.
Thanks for sharing the article. Its very recent, 29 September. It seems very strange to see the former head of the Federal Reserve write things like: and and Greenspan is writing like a stacker! I dont quite understand what the political agenda is behind the article. Cheers, Agnostic
To confuse people since generally people know anything the federal reserve chairman current or past says is bs...they want us to sell. I am buying and suggest if you have balls you do the same...jk Sub $17 means monster boxes around $10k which is good in my eyes when they sold for $20k a few years ago.
Not to mention this view on future Chinese growth that I (and others) have been saying for the past few years
Good summary on possible limits to shorter-term Chinese growth, but there seem to be some further complexities with consequences that are not yet fully understood. China has been called a laissez-faire authoritarian state, so while political and social activity may be highly constrained within strictly managed limits, there is also a highly competitive manufacturing and technology sector (outside of state-run companies) with intense entrepreneurial focus on profit and a rather lax regard for constraints imposed by intellectual property rights. Will this ensure a move to more innovation-based growth as traditional investment-based growth reaches its limits? Will it be enough to overcome the constraints of authoritarian rule? Will it lead to change in the type of government that leads China? Or will authoritarianism stifle the full potential of the Chinese nation? Closing paragraphs of a 2012 article that briefly covers this idea of laissez-faire authoritarianism (via the Cato Institute):
Yes. A lot is political entrepreneurship as well which is residing on extremely shaky financial foundations. As someone I forget said "The Chinese financial system is built on sand running through a Rube Goldberg hourglass."
i havent bothered to look at it but comparing no. of registered patents to US would be good to see how their technological sector is doing according to wiki which is not a good source but nevertheless they doing good http://en.wikipedia.org/wiki/World_Intellectual_Property_Indicators
http://www.nytimes.com/2014/10/30/b...id=nytcore-iphone-share&smprod=nytcore-iphone Greenspan comments at the end of article.
So now we have Greenspan warning that: And the RBA warning recently of the potential for violent disruptions and sell offs in the markets. What's up?
Come gather 'round people Wherever you roam And admit that the waters Around you have grown And accept it that soon You'll be drenched to the bone. If your time to you Is worth savin' Then you better start swimmin' Or you'll sink like a stone For the times they are a-changin'. Come writers and critics Who prophesize with your pen And keep your eyes wide The chance won't come again And don't speak too soon For the wheel's still in spin And there's no tellin' who That it's namin'. For the loser now Will be later to win For the times they are a-changin'. Come senators, congressmen Please heed the call Don't stand in the doorway Don't block up the hall For he that gets hurt Will be he who has stalled There's a battle outside And it is ragin'. It'll soon shake your windows And rattle your walls For the times they are a-changin'. From Mr Dylan
Fox guarding the chickens... would not trust him as far as I could throw him while he was holding all the gold Fort Knox is supposed to hold