Monday, March 19, 2012

Jim Grant: Gold, the Refuge of the Idiots

*Edit: We thought we made it clear and our readers understood that the headline is CNBC MOPE, but apparently we need to spell that out.
Yes, he did say it, but just to explain how people felt about it in 1996, as some people refer it to "the refuge of the fearful". Maybe when it will be called "the refuge of the smarts", it will be time to sell.
If that statement in this Jim Grant interview wasn't enough of a headline, he also states that 'the price of gold is reciprocal to the world's faith in Bernanke.'