Thanks for posting Skol. A good article dubunking myths and mistruths relating the authors writings on gold. This is sound reasoning
"What does all this mean in practice? The simplest answer is this: the government plays a counter-cyclical role relative to the private sector. When times are good, and the economy is booming, the government should take steps to pay down its debt and reduce inflation. When times are bad, and a depression is looming, the government should do whatever it takes to prevent unemployment from passing a critical level, even if that requires taking out loans and providing "stimulus." The former principle is just as important as the latter."
We haven't had the pay down in debt yet despite an economy skipping along nicely, largely due to benign inflation (article written 2011) . The principle and at its core lays the reason why sovereign debt is not a problem for balanced economies (able to produce most of what they need internal)
Gold is going nowhere fast, trade the range is the best one can hope for to get some sort of reasonable return form gold. There are far better options to grow wealth for the long term investor. Put your money to work don't let it fester!
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