Roubini criticizes Rickards' book without bothering to read it

Section:

5:35p ET Friday, November 25, 2011

Dear Friend of GATA and Gold:

An interview with geopolitical analyst James G. Rickards at King World News tonight illustrates the sort of dilemma GATA has experienced many times in its 12 years. Rickards recounts how this week he was denounced by celebrity economist Nouriel Roubini for failing to acknowledge in his new book, "Currency Wars," something Rickards indeed does acknowledge in the book -- that the gold standard had something to do with the Great Depression.

Roubini seems to have picked up just a little of Rickards' advocacy of restoring a degree of gold backing to the U.S. dollar without grasping a critical point of Rickards' book -- that the gold standard as restored after World War I set gold's price too low, inducing deflation. That is, Roubini is criticizing a book he hasn't bothered to read.

GATA long has been getting such criticism from various participants in the precious metals industry and the financial news media who maintain that there can't possibly be surreptitious government intervention in the monetary metals markets but who haven't bothered to examine and respond to the documentation GATA has compiled:

http://www.gata.org/taxonomy/term/21

But then the financial world is full of people whose attitude is that if they don't already know about something, it can't be happening.

An excerpt from the King World News interview with Rickards is headlined "New Reserve Currency and Roubini Behind the Scenes" and you can find it at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/11/26_R...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



ADVERTISEMENT

The United States Once Again Can Establish
a Stable Dollar Worth Its Weight in Gold

Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, has released a plan to restore economic growth through a stable dollar.

The plan, titled "The True Gold Standard: A Monetary Reform Plan Without Official Reserve Currencies," responds to the recurrent economic crises of the last century and outlines a detailed proposal for America's leadership on "how we get from here to there." That is, how we get from the present unstable paper dollar to a stable dollar as good as gold.

James Grant, author and editor of Grant's Interest Rate Observer, says of the Lehrman plan: "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman the country has finally found him."

To learn more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit:

http://www.thegoldstandardnow.org/gata



Support GATA by purchasing a silver commemorative coin:

https://www.amsterdamgold.eu/gata/index.asp?BiD=12

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:

http://www.goldrush21.com/

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16



ADVERTISEMENT

Be Part of a Chance to Discover
Multi-Million-Ounce Gold and Silver Deposits in Canada

Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada.

Check out the exploration program on our Allco gold/silver project :

-- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit.

-- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries.

-- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited.

To learn more about the Allco property or Northaven's other gold and silver projects, please visit:

http://www.northavenresources.com

Or call Northaven CEO Allen Leschert at 604-696-3600.