Greenspan's Last Bubble Has Popped: Gold

Gary North / LewRockwell.com:
"Greenspan gaveth, and Bernanke hath taken away." Put a different way: "Ludwig von Mises was right. The Federal Reserve System is wrong." (This rule is always correct -- as Mises used to say, with "apodictic certainty.") I knew gold's decline was near. Also silver's. How did I know? Because I understand Mises' theory of the business cycle. The central bank inflates. This creates a boom. This creates sectoral bubbles. Then the central bank ceases to inflate. The bubbles will pop. The economy will go into a recession.

Posted by Editor at March 24, 2008 12:09 AM