by Brendan Brown, Mises Institute:
In the last decade, the combination of virulent asset price inflation and low reported consumer price inflation crippled sound money as a political force in the US and globally. In the new decade, a different balance between monetary inflation’s “terrible twins” — asset inflation and goods inflation — will create an opportunity for that force to regain strength. Crucial, however, will be how sound money advocacy evolves in the world of ideas and its success in forming an alliance with other causes that could win elections.
It is very likely that the deflationary nonmonetary influences of globalization and digitalization, which camouflaged the activity of the goods-inflation twin during the past decade, are already dissipating.
Gold moved sideways this week in a tight range. The story for silver was the same, but with a little more volatility, as one would expect. By morning trading in Europe, gold had lost $7 from last Friday’s close to trade at $1555, and silver nine cents at $18.01.
