We Must All Talk About Gold Again Right Now!
The older one gets in the political economy game, the more one appreciates the endemic nature of some stories. Until recently, the centrifugal forces of the euro zone was a hardy perennial in international economic coverage. A similar thing could have been said of the Boeing-Airbus subsidy dispute. Every few years, like clockwork, these stories emerge, like some moderately rare variant of the influenza virus.
The endemic story that will occupy financial folks for the next few days is whether the dollar’s reign as the world’s principal reserve currency is coming to an end. This is actually a twofer, because it ties in with another endemic story line — the fluctuating price of gold.