Tax cuts aren’t the only thing that work great in every situation. Hoarding gold works too:
Gold is now regarded as a hedge against both inflation and deflation, says Alan Ruskin, the chief international strategist at Greenwich, Connecticut-based RBS Greenwich Capital Markets Inc. The first is reflected in the high dollar price of bullion, the second by the surge in gold’s price in euros.
Having been in the presence of gold at different times, I can attest that it also flies, improves mental health, and eliminates odors from cat poop boxes at twenty paces. But seriously, what the heck does that second sentence even mean?
FYI, the “RBS” in “RBS Greenwich Capital Markets Inc.” stands for Royal Bank of Scotland. Yes, that Royal Bank of Scotland. Now I didn’t know anything about Alan Ruskin, so I googled him. It turns out he penned this piece [link fixed- klh] on moral hazard in the Financial Times back in 2007.
Anyway, there are a lot of places this post could go, and most of ’em all but write themselves. Have a go at it in comments.