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Gold Reminds Governments That They’re Still Not In Control — Jeffrey Snider

Summary:
This is not your typical gold buggy "argument" against MMT although it is pro-gold standard. Jeffrey Snider goes through the history and lays out a case. It is worth a read.  Edison was exactly right about the nature of gold as money. Everything boils down to who gets to control it. If you believe as Edison and Ford the government can be and most often is a force for good, then monetary restraint is a barbarous evil. But what if the government is populated, always, by bumbling incompetents masquerading themselves as technocratic geniuses? Real Clear MarketsGold Reminds Governments That They're Still Not In ControlJeffrey Snider | Chief Investment Strategist of Alhambra Investment Partners

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This is not your typical gold buggy "argument" against MMT although it is pro-gold standard. Jeffrey Snider goes through the history and lays out a case. It is worth a read. 
Edison was exactly right about the nature of gold as money. Everything boils down to who gets to control it. If you believe as Edison and Ford the government can be and most often is a force for good, then monetary restraint is a barbarous evil. But what if the government is populated, always, by bumbling incompetents masquerading themselves as technocratic geniuses?
Real Clear Markets
Gold Reminds Governments That They're Still Not In Control
Jeffrey Snider | Chief Investment Strategist of Alhambra Investment Partners
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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