I was honored to be in St. Paul’s Cathedral attending Margaret Thatcher’s funeral last week. It was quite a special opportunity to pay tribute to Britain’s longest-serving prime minister in person, and the ceremony provided a reflective occasion on her influential leadership and unwavering conviction
As her country faced an economic crisis with high inflation, high tax rates and hundreds of mining strikes, the lady’s iron courage helped her make the difficult decisions that steered the United Kingdom to a more sustainable path.
A steely resolve seems to be lacking in many of our world leaders today. Maggie led the U.K. down the path of privatization, encouraging entrepreneurship and free markets because her belief was that “Socialist governments traditionally do make a financial mess. They always run out of other people’s money.”
In his recent webcast, Global Portfolio Strategist Don Coxe points out the effectiveness of this privatization path, showing the rise in the U.K.’s real GDP from the time she was elected Leader of the Opposition in 1975 through today.
Buyers Move from Gold ETFs to Physical Gold
After spending a few short days in London, I flew back to the U.S., landing in New York City to work with the International Crisis Group. U.S. Global Investors has been a strong supporter of the ICG, which works to resolve conflicts around the world and promote peace and prosperity.
I also met with several business leaders while in The Big Apple. For those of us in the investment business, we all have the same question on our minds: What’s going on with gold? How can governments’ balance sheets continue to expand like we’ve never seen before in history, yet the price of the metal melt so quickly?