We are a complicated species. Parts of us would be comfortable in a science fiction future, yet much remains deeply entrenched in the principles of a Feudal Age—where physicality is applied even in the supposedly most genteel of surroundings. You know, like those gentlemen who wear red overalls to Parliament (see above).
Almost exactly 100 years ago, one of the most celebrated economists of all time, John Maynard Keynes, described the Gold Standard and, by extension bullion itself, as ‘a barbarous relic’. Yet, his 1924 book on monetary reform is nowadays most often referenced for that erroneous statement rather than its cerebral recommendations.
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No matter what Keynes believes, gold continues to be treated as a store of value in uncertain times. Nowhere is this more evident than during periods of great stress. To whit – it is no coincidence that the latest near $250 surge to a record high began after the 7 October Hamas invasion of Israel.
We have two excellent Premium pieces to explain why the gold price is running — click on the links below to read them:
🔒From the FT: Gold’s weird rally – why bullion has soared to all time high
🔒World on the Brink: Hedge Fund Titans and Leaders Warn of Rising World War III Fears
Sterkte,
Alec
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