A five-cent cola and gold (E1395)
Max and Stacy discuss Malaysian Prime Minister Dr. Mahathir Mohamad calling for a gold-backed currency as a unit of account for trade between East Asian nations. Dr. M argues that having gold back the currency avoids the issue of manipulation. Max interviews Alasdair Macleod of Goldmoney.com for his thoughts on the gold market as the US Federal Reserve chairman calls for the end of the use of the word ‘unconventional’ when referring to QE, and other new monetary policy tools. They discuss whether or not interest rates will go to zero in the US, as billionaire investor Stan Druckenmiller believes, and what happens, in that case, to Europe where over $10 trillion worth of bonds have a negative yield.
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