Best Of

All your stats are meaningless, DerryB....I could give more impressive numbers for the G-7 or G-20 or OECD.

The Fed isn't responsible for income inequality anymore than it is responsible for the adoption of the Designated Hitter in the National League. You DO realize that a hard monetary rule or Gold Standard would crush the Lower Third you wax so poetically over, right ?

Who do you think William Jennings Bryan was talking about when he mentioned being "crucified on a cross of gold" -- THE RICH !!!????!!!???

@cohodk said:
I think one if the issues is when flaws of the Brics are pointed out, they are quickly dismissed via pointing out the >same flaws in the US. To some, this appears to be hypocritical and has an aire of cheerleading.

First, the flaws in the BRICs are STRUCTURAL and RAMPANT throughout their financial systems. In the time it takes all of you people to read my post here, you could do all the bond market trading for all the BRICs.

Second, Monopoly money is worth the same today as it was 40 years ago. Doesn't mean it's useful.

Third, the BRICs prefer gold for "secret" transactions even though they can't dump it and liquidity is limited. BitCoin still has questions about it.

This thread has lots of useful information even though (at times) it goes off tangent. Still, a discussion of BRICs and their policy choices HAS to involve a debate on politics -- or rather, their limited financial markets -- as that explains the surge in Central Bank gold buying which is what this thread is about.

Countries with capital controls, tiny bond markets, nonexistent money markets, corrupt and fragile banks, no rule of law, no private property rights, political instability, currencies that drop 50-90% in a few years......these are NOT countries that are a threat to the dollar.

These are countries buying gold.