Stocks and Precious Metals Charts – Everybody Knows, But Who Could Have Seen It Coming?

“We looked into the abyss if the gold price rose further.  A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake.  Therefore at any price, at any cost, the central banks had to quell the gold price, manage it.  It was very difficult to get the gold price under control but we have now succeeded.  The US Fed was very active in getting the gold price down.  So was the U.K.”  –Sir Eddie George, Governor Bank of England in conversation with Nicholas J. Morrell, of Lonmin Plc, 1999

https://jessescrossroadscafe.blogspot.com/2021/03/stocks-and-precious-metals-charts-risk.html?m=1

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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