-- Posted Sunday, 10 June 2012 | | Disqus
Dear Friend of GATA and Gold:
In an outline posted Friday at Zero Hedge, fund managers Lee Quaintance and Paul Brodsky make the case for resolving the world debt crisis with an asset monetization and revaluation based on the upward revaluation of gold by 800 to 1,000 percent, creating lots of money with which government debt could be liquidated and bringing hopeless mortgages and the banks that issued them back to solvency:
http://www.zerohedge.com/news/brodsky-gold-monetization-and-big-reset
The Quaintance and Brodsky outline draws on the paper they published last month and allowed GATA to bring to you here, headlined "Brodsky and Quaintance: Central Banks Aim to Redistribute Gold and Push It Way Up":
http://www.gata.org/node/11373
Their thinking closely resembles that of the Scottish economist Peter Millar, whose May 2006 study, "The Relevance and Importance of Gold in the World Monetary System," also brought to you by GATA with the author's kind permission, argued that an upward revaluation of from seven to 20 times would be necessary for central banks to avert debt deflation:
http://www.gata.org/node/4843
Wild as the numbers might seem at first, the current world financial situation is wild too, and the upward revaluation of gold by governments from time to time as they try to escape the consequences of their economic mismanagement and political venality is simply a fact of history, even if it cannot be acknowledged and discussed by many supposed gold market analysts.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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-- Posted Sunday, 10 June 2012 | Digg This Article
| Source: GoldSeek.com
