OPEC had a problem. They were selling their oil and getting dollars in return. However, the dollar was losing value quickly. They worried that, in the future, the dollar might not be worth very much at all. They would have sold their irreplaceable natural resources for a paper promise from a country that didn’t keep [...]
January 10th, 2008 | Nathan Lewis | 6 comments | ContinuedArchive for Nathan Lewis
Nathan Lewis is the author of Gold: the Once and Future Money, published by Agora Publishing and J. Wiley. He runs an investment fund in Westport, Connecticut.
A History of the Gold Standard
It appears that we are slowly drifting into a period of monetary turmoil. Turmoil leads to change, and ideally the result of a widespread desire for change will be the establishment of a new gold standard. Indeed, there are some indications that this may be achieved by the end of this year, although it may [...]
April 6th, 2007 | Nathan Lewis | 3 comments | Continued
“Investing” in Backpacks for 2007
Of all the “investments” one might make at this time, one of the best may be to be prepared for a breakdown of the economy as we know it. This is not necessarily a prediction – any more than having fire or flood insurance is a prediction that you will have a fire or flood. [...]
January 12th, 2007 | Nathan Lewis | 2 comments | Continued