GOLDEN SEXTANT ADVISORS

During its heyday, the classical gold standard was not generally regarded as impinging upon monetary sovereignty. Rather, in any circumstances short of major war, devaluation was simply unacceptable as a policy option in most nations. Interestingly, Mrs. Thatcher recently invoked the notion of monetary sovereignty in opposing British participation in a common European currency. The Germans have a well-known anathema to inflation. They are unlikely to participate unless given sufficient control over a common European currency to assure that it remains as inflation-resistant as the Deutschmark. The notion that the Bank of England might become a branch of the Bundesbank apparently was more than Mrs. Thatcher could stomach. But all Europeans, not just the British and the Germans, might find a common European currency easier to accept if it were based on gold, not paper. Gold is a neutral monetary sovereign with an impeccable record on inflation... Contrary to the predictions of many if..

Also known as: Golden Sextant Advisors LLC, The Golden Sextant

Primary location: Charlotte United States