By Jack Kneafsey
A few days ago I had the opportunity to speak with Alasdair Macleod, a proponent of sound money and Senior Fellow at the GoldMoney Foundation.
The interview was a fascinating discussion on the concept of money itself, different schools of economic thought, plus what may lie ahead for gold, silver, and the West.
A chief topic during the interview was Keynesian Economics and it’s deadly impact on society
Alasdair: “Keynesianism is a self-serving mechanism,”in which, “only governments, their cronies, and banks benefit. Outside of Ron Paul, you don’t have anyone with the foresight or the guts to take the Austrian view. If members of congress or parliament do find out about Austrian economics–they have to keep quiet about it because of the politics of the system itself.”
On the future of Paper Money
Alasdair:“We don’t have very long left to live under fiat money. We’re on an accelerating road to a complete destruction of paper currencies, with only about two and half years left to go. The economic establishment is collapsing. On one hand it’s frightening, and on the other it’s very exciting.”
What does he expect from gold and silver in 2012?
Alasdair: “Gold & silver will be considerably higher at the end of 2012 then they are today. The acceleration in money printing going into next year will diminish the purchasing power of dollars, pounds, euros, and other currencies against gold. Looking at my models, gold should be priced around $3800 by the end of 2012, and silver’s got potentially a triple or more over the next year considering the shortages”
As a final warning to investors Alasdair concluded,“We live an upside down world where, the things meant to be risk free are suddenly full of risk, and the parties which traditionally carry the risk are absolved of it.”
This interview was quite the intellectual adventure, and is a absolute “must-listen” for investors and students of economics
Source: bullmarketthinking.com
