The Institutional Risk Analyst

“A higher money price of gold is best read as a symptom of a weaker currency. It isn't really the gold going up, it's the dollar or fiat currency in general going down.” That seems to me to be right. And then he says, “The value of gold lies in being independent from political discretion. Fiat money is a claim on the future discretion of politicians.” Isn't that good?

The Powell Fed needs to drop short-term interest rates back down to 4% and leave them there indefinitely.

The Fed's 2% inflation target needs to be replaced in a specific way