Warren Buffet and the New Calculus of Gold

Central banks are quietly and very quickly making a de facto return to the gold standard.Lew Spellman points out that gold is quickly becoming an anchor of collateral against fiat currencies and links the announcement in which the Basel Committee is studying making gold a Tier 1 banking asset.
He makes the case that ALL fiat currencies fail the test of good collateral given ratings downgrades.

Try to find this information in any mainstream media outlet.  You won't.

What is really interesting is that Professor Spellman was a FED insider. He WAS a Presidential Economic Advisor who is acknowledging that some form of a gold standard not only is necessary,
but is coming!

Warren Buffet and the New Calculus of Gold

The central banks of the BRIC countries are accumulating gold as quickly as they can and are starting
to push the gold standard into the market. What will happen to gold when we see 1% of the population
realize they have been had by their governments fiat currency? If 2% of the market decides to by gold.....
Oh my!


Lew Spellman, Professor of Finance at the University of Texas at Austin at the McCombs School of Business. He has also taught at Stanford, LBJ School of Public Affairs, the UT School of Law and the University of California at Berkeley. He has also served as the Assistant to the Chariman of the President's Council of Economic Advisors and as Economist with the Federal Reserve.