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Old 7th Oct 2011, 20:48
  #167 (permalink)  
breakfastburrito
 
Join Date: Apr 2008
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Foie gras, that is a breakfastburrito approved RANT


Jim Rickards has lots of interesting interviews floating around, well worth searching out. In this interview he nails the problem as Triffins dilemma.

Related is Gibson's paradox. This article: Gibson's Paradox Revisited: Professor Summers Analyzes Gold Prices explains how the former Treasury Secretary "solved" the paradox, utilizing government "pegging operations" to suppress the price of gold. As Rickards points out, in the end, Mr Market is bigger than even the central banks, hence the solution will only buy more time.
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