by rcwhalen.com
"Interest is the difference in the
valuation of present goods and future goods; it is the discount in the
valuation of future goods as against that of present goods."
Ludwig von Mises
“Planning for Freedom”
We’ve all been watching the selloff in the global gold market. Armies of chicken littles are in a frenzy due to suggestions that the Fed may be ending its quantitative easing, so I thought this is a good time to check in with my friend Henry Smyth of Granville Cooper Asset Management Ltd. (GCAM). Henry is a former Coutts & Co. banker and a very astute observer of the global financial markets. We spoke last week in New York. -- Chris
RCW: Henry, the gold market has been taking a beating in the past few months. What do you see as the drivers of the gold market today?
