by George Melloan
Daily Reckoning
Thank you to George Melloan for his thoughtful review of my new book in today’s Wall Street Journal. Read on… – James Rickards
Gold bullion’s dollar price soared 20% from mid-December 2015 to mid-March of this year on the London bullion market at a time when the dollar was widely perceived to be “strong.” And it was indeed strong against other currencies. Normally, if the dollar is strong gold would go down, not up.
So what was going on?
Anyone puzzled by such riddles should read James Rickards’ “The New Case for Gold.” One of its points: Gold, now as always, is money, a more stable form of money than fiat currencies. He suggests that, in some not-too-distant future, the dollar’s value could weaken to such an extent that an ounce of gold could cost $10,000, compared with $1,250 today.