When Dr. Alan Greenspan became chairman of the Federal Reserve, he moved from the world of rhetorical economics to the world of action. His most recent memoir attempts to make sense of how the financial crisis of 2008 came to be and how we can better predict future crises, along with the role of gold in a global monetary system.
Congress got to hear a lot of nice things about Bitcoin from regulators this week. The cryptocurrency's market price has also touched record highs. If you think either development is good news for Bitcoin, you're missing the point.
The manipulation of gold prices, along with practically every other asset class, has perfectly transparent legal precedent. The precious metals political hot potato taboo has been strong enough to make it almost impossible for the mainstream to understand.
Precious metal prices were unchanged in what dealers called "thin, quiet" Asian and London trade Monday morning, despite increasing fears the U.S. government will fail to meet its obligations in only 10 days' time.