"I think you have a lot more faith in the integrity of the US monetary system than I do"
That wouldn't be hard! LOL
I wouldn't say that I have implicit faith in the US monetary system. I am just more familiar with the US monetary system than you are.
I am not shocked or surprised by the regular stupidity and occasionally criminality because I have seen it all before. I have also seen the Fed technocrats in action during a number of crises, and that gives me more confidence in the stability of the system than you.
All of this means that I assign a lower probability to tail events than you do, and this has kept me out of the gold market for the last two and a half years, thank heavens.
