10.12.2014 - Is Gold Really the World's Biggest Economic Bubble?
One economist recently declared that gold in all shapes and sizes is "a 6,000-year-old bubble" and suggested that it "can be viewed as shiny Bitcoin," or something similar to a pet rock. And the reality is: He's right. In the latest Global Economics View report, Citigroup global chief economist Willem Buiter provided his own perspective on the "Save Our Swiss Gold" initiative in Switzerland that would've required the Swiss National Bank to hold at least 20% of its assets in gold. The question on the minds of many in Switzerland was whether this would be a worthwhile initiative. Buiter was blunt. "The short answer is: no. The slightly longer answer is: absolutely not."..............................................Full Article: Source
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