Harry Schultz:
The legendary Harry Schultz last night…
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Preamble by Uncle Harry: Yesterday, Nov 8, 2010 was a day I’ve awaited for 40years, since Pres. Nixon shut down the last vestiges of the gold standard. But, yesterday, at last, a respected member of the ruling classes, called for a discussion to readopt a modified global gold standard as a lynchpin for the monetary system. Robert Zoellick, World Bank president & a former US Treasury official, says a new system is needed (as called for in HSL for 20yrs), using 5 main currencies, with gold as the int’l reference point for future currency values. He wondrously said "Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today." I couldn’t have put it better, & in fact I have put it in those exact words, as has Jim Sinclair & a number of free mkt analysts.
I started following schultz in 1962 and have been a gold member since then.
