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"A Message to Garcia" (Rickards Rebuts Truman)

By Implode-Explode Heavy Industries

``Truman?s idea that gold sales and debt reduction would reduce U.S. interest expense by $15 billion per year is the kind of nonsense one gets from static, linear analysis. In dynamic, nonlinear analysis, such gold sales would so undermine confidence in the dollar as to cause a skyrocketing of interest rates and an explosion of the U.S. deficit easily submerging the savings that Truman posits. ''

Full post as published by Mortgage Lender Implode-o-Meter on October 13, 2010 (boomark / email).