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Mix-Ansicht- Jetzt schreibt auch schon Steve Forbes Leitartikel zu Inflation und Gold!! - CRASH_GURU, 28.12.2005, 05:58
Jetzt schreibt auch schon Steve Forbes Leitartikel zu Inflation und Gold!!
-->Auszug aus der Januar 06 Ausgabe:
Steve Forbes, publisher of Forbes magazine
"Alan Greenspan will have left town by the time his inflationary blunders become all too evident. Greenspan & Co. started to turn out excess money more than a year ago..... The Fed's blunder is a shame. The economy's fundamentals are astonishingly strong -- productivity gains of historic proportions, low inventories, growing capital spending and very sound consumer balance sheets (media myths to the contrary).
"Ben Bernanke, Greenspan's about-to-be-successor, disdains gold as both an indicator and a guide to monetary policy; he won't be prepared for what's going to hit him. He'll look at the Fed's multitudinous measures of money and conclude they haven't grown enough to cause inflation.. No one has taught him that he can't just look at supply -- he also has to look at demand. The world is flush with liquidity. US corporations have nearly $2 trillion in cash, a record high in absolute terms and proportionally. Banks, insurance companies equity funds, venture capitalists, hedge funds -- all are desperately looking for investment opportunities. They have more money than they can profitably, prudently, put to work. Bernanke's explanation for the events that are about to unfold will be interesting. Will he blame Arab sheikhs? Rapacious corporations? Budget deficits? Trade deficits? Hedge funds? Sunspots? Or will he have the courage, the understanding, to point the finger at the institution that he will soon be piloting?
"Given his statements that gold is an obsolete, if not destructive, guide to monetary policy, Bernanke is not likely to recognize the inflation problem until it hits him -- and the economy -- square in the face. A year from now Greenspan's successor may, unfairly, resemble the ill-starred G. William Miller, whom Jimmy Carter appointed to head the Fed in December 1977 and who proceeded to stoke inflation to record highs.
"Bernanke should let short-term interest rates float and simply mop up the excess liquidity until the price of gold comes down to a tad below $400 an ounce, a price still above the average of the past ten years. Sadly, such a timely, sensible approach is so beyond Bernanke's mind-set -- not to mention that of most other economist and policy-makers -- that he'll never do it.
"Like booze at a party, easy money should make for a good economic year. The morning-after headaches will start being felt by next Christmas."
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