Economists try to understand the complexities of the economic world that surrounds us through the construction of economic models with the understanding that if a model leads to inaccurate forecasts, then such model should be discarded.
However, according to some here not necessarily so. What am I talking about?
In 2014 a guy called Jim Rickards is alleged to have predicted based upon his understanding of "proper economics" that by 2020 the gold of the G-20 nations would have been confiscated and buried in a former nuclear bunker under a mountain in Switzerland to take it out of the global financial system, a prediction that did not come true, but that to my understanding could have had if the guys at the G20 that do not "like the idea of a gold standard" could have had their way, as they did in 1933 under president Franklin Rosevelt. In other words, that did not happen for lack of intention, but only because the moment turn out not to be suitable.
What is curious here is that while the confiscation ordered by Rosevelt was done in order to move the gold into the financial system the one being predicted for 2020 was to be done in order to move it out.
