Nov 28, 2011
Twitter Wars: The Gold Standard
Nouriel Roubini decided to ask James Rickards, author of "Currency Wars," why he advocates for a return to the gold standard in his book "currency wars," when it was this return to gold that was a direct cause of the Great Depression. James Rickards responded by pointing out that it was not the return to gold, but rather the return to gold at the pre-WWI price that necessitated deflation, which exacerbated the depression. Nouriel then went to town on Rickards with, what became, full out, personal insults. He called James Rickards "arrogant" and said that the Wizard of OZ is a better read for those who want to understand the gold debate than Currency Wars.
Related, SPDR Gold Trust ETF (GLD), iShares Silver Trust ETF (SLV)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.