Gregor Weekly Macro Note: Saturday 29 August 2009

Gregor Macdonald — Sat, 29 Aug 2009 13:45:44 +0000

I hate gold mining. In fact, as I write today’s Weekly Macro Note, I’m listening to a three part podcast on gold and gold mining from the BBC World Service Documentary Series. It’s a rich broadcast that merely confirms what I’ve known for over 10 years: gold extraction is a destructive business, often conducted now in poor countries where safety and environmental standards are lax. And yet, I find myself living in a time when another kind of standard has gone lax: conservative central banking here in the OECD, and in particular the United States, has not only gone soft, it’s gone haywire. Under conditions such as these… (this article continues for subscribers through the membership gateway, on the right side of this page.)

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Gregor Weekly Macro Note: Saturday 29 August 2009