Friday, June 25, 2010

If you thought iPhone sales were hot . . .

Wait 'til you see the rush to buy gold and silver coins when price inflation kicks into high gear. Gary North's 101 Thoughts on America's Economy touches on this:

63. Few Americans understand that monetary inflation produces price inflation.

74. Most Americans believe that a little price inflation is preferable to a recession.

75. So do most economists.

76. Some Americans are beginning to doubt that Federal deficit spending on stimulus programs will restore economic growth.

77. Hardly any economists have doubted this.

89. Few Americans understand the logic or history of the gold coin standard, 1815–1933.

90. Few Americans have ever seen a gold coin.

91. There are very few retail coin companies that sell gold coins.

92. In a monetary panic, their toll-free lines will be busy.

And my thought: There will be a monetary panic.

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