With a major hat tip to our buddy, Ned Naylor-Leyland, you simply must watch this video from The Financial Times and their astute financial reporter, Izabella Kaminska.
I don't want to add too much here for fear of spoiling the fun. However, I'll just share these quotes and then let you sit back and enjoy...you evil, selfish recluse.
The money shot from Izabella: "But the potential danger of gold goes beyond its polluting attributes; it also poses risks to the financial system, itself."
But it gets better...much better! This from "sociologist Nigel Dodd": "(Gold)...is a poor form of money precisely because of its anti-social properties and its propensity to encourage selfishness. Gold undermines the fundamental point of what money should be...a reflection of society's capacity to share."
And if that quote alone doesn't remind you of why you should never take investment advice from your brother-in-law who never left college and prefers to live in a utopian fantasy land, the next bit of wisdom from Mr. Dodd takes the proverbial cake:
"Gold expresses a wastage of human potential. And that's what gold really is...it's human waste. 'Poo' that is made to shine. If you're in love with gold, you're in love with your own poo."
Well, I don't know about you, but suddenly this all makes sense for me! Thank you, Mr. Dodd! I am TURD FERGUSON. Now I know why I instinctively chose the pseudonym. I'm an internet analyst of my own poo! BRILLIANT!!
All joking aside, if this video doesn't represent the prevailing mindset at the end of The Great Keynesian Experiment, I don't know what does. Gold is hoarded by selfish, frightened sociopaths. It's dangerous to Mother Earth and society. Have faith, instead, in "the system" where confidence and fiat cash flows freely like a fresh mountain stream.
Enjoy,
TF
