– Dear Willem Buiter: If Gold Is A 6000-Year Bubble, Then What Is This? (ZeroHedge, Dec 4, 2014):
Citi claims gold is a 6000-year-old bubble, perhaps Mr. Buiter has not seen this chart?
…and funny how Mr. Buiter never wrote any extensive essays about the bubbleness of Citi at any point between 1995 and 2007?
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“A friend asked me to choose one investment that I would want to leave to my great-great-grandchildren. I immediately answered that it would be gold coins. The reason I explained is as follows – corporations can disappear, stocks can collapse, governments can change and they can fall, booms and recessions come and go – but gold is intrinsic money, and no man or nation has ever doubted its value. And they never will.”
“Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it.”
Source: The Burning Platform blog, and Bullion Management Group