Ok, Globe & Mail, Why Do Central Banks Intervene in Gold Instead of Beaver Pelts?

by Chris Powell

Dear Friend of GATA and Gold:

In an interview on CNBC seven years ago, the soon-to-be-ubiquitous James G. Rickards made an observation for the ages, an observation that could be the preface for Chapter 1 of every economics textbook that aspired to be more than disinformation for the financial class.

“When you own gold,” Rickards said, “you’re fighting every central bank in the world”:

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