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The price of gold is soaring, probably due to lack of global confidence in this fascist administration [View all]
https://paulkrugman.substack.com/p/ingots-we-trustA few weeks ago, however, Ken Griffin pronounced that he was shocked, shocked to discover that Trump isn’t a champion of free enterprise after all, and that he’s actually building a system of crony capitalism in which business success depends on your political connections. Well, I could have told Griffin that this was coming. In fact, I did.
Still, better late than never. Griffin deserves some credit for being willing to speak publicly about his current misgivings over Trump, rather than joining the nauseating chorus of praise for Dear Leader. So I found it interesting that he sees the soaring price of gold as an economic warning sign, an indication that Trump is causing the world to lose faith in America.
Here’s the price of gold over the past year. The price of gold is currently $4,037 per troy ounce, a record-setting price as it has skyrocketed in the past two months. It has risen over 54% since mid-November 2024:
Still, better late than never. Griffin deserves some credit for being willing to speak publicly about his current misgivings over Trump, rather than joining the nauseating chorus of praise for Dear Leader. So I found it interesting that he sees the soaring price of gold as an economic warning sign, an indication that Trump is causing the world to lose faith in America.
Here’s the price of gold over the past year. The price of gold is currently $4,037 per troy ounce, a record-setting price as it has skyrocketed in the past two months. It has risen over 54% since mid-November 2024:
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