Perspective By Rich Checkan
Information Line - December 2023
I don’t know about you, but our Christmas preparations are in full swing. The lights went up the Saturday after Thanksgiving, and they have been burning 24 hours a day since. We cut down a beautiful, full, and well-shaped tree this weekend. And next weekend we will make more cookies than any of us can possibly eat.
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But gold’s action over the past year and a half has not been so bad. It was up from the period before the Russian invasion until before the Hamas attack on Israel, and nearly 20% for the 12 months prior to that attack. This was in the face of the most aggressive monetary tightening ever as well as a strong dollar, two factors that are decidedly negative for gold.
Editor's Note: Jon Wolfenbarger is a contributor at the Mises Institute. This article was originally published on November 30, 2023.
Economists, investors, businesspeople, and yes, even our wise politicians seem to believe that the Federal Reserve, using its various “tools” to create money out of thin air (which is illegal for mere mortals like us), can control the economy and financial markets any way it likes.