Jim Grant on Gold’s Central Bank Buying and Possible Revaluation

• Jim Grant on Gold’s Central Bank Buying and Possible Revaluation
  by Goldfix, via https://www.zerohedge.com/
  Jim Grant: Gold is the cure “for what ails them”
  Jim Grant is writing about Gold again in his erudite historian way. In a brief but tightly-worded comment in this week’s Interest Rate Observer he touches on: The press infatuation with pronouncing Gold dead, Central Bank purchases and history, Gold’s performance in 2022 as inflation hedge (not so good), the potential for European Central Bank revaluations (pretty good) and more. Here is an attempt to summarize and decode some of it.
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  The writer starts off noting the absolute pessimism by the press. He takes a jab at the one-upsmanship by publications to see who can deride Gold the most. He quotes both Bloomberg and Business Insider one day apart:
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  “Gold set for its longest monthly losing streak since the late 1960s,” was the headline over a Halloween Bloomberg bulletin. “Gold prices are down for seven consecutive months, the longest decline since 1869,” Business Insider reported the next day..
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  Business Insider, he observes in the game of Gold-bashing media poker was, “seeing” Bloomberg and raising the date by 100 years. After which he admits he has been a friend to Gold for quite some time.
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  read more.

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