Alasdair Macleod: The deflationist error

Section:

8:12a ET Monday, June 24, 2013

Dear Friend of GATA and Gold:

As central banks no longer are restrained by gold convertibility, they always can create as much money as necessary to avert deflation, GoldMoney research director Alasdair Macleod writes today. And as gold is so narrowly owned, disproportionately by people and countries in Asia who consider it "super-money to be hoarded" and "a refuge from paper money," it is unlikely to be used to repay debt. Macleod's commentary is headlined "The Deflationist Error" and it's posted at GoldMoney's Internet site here:

http://www.goldmoney.com/gold-research/alasdair-macleod/the-deflationist...

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



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