‘Bubble elements’ thanks to ‘free money’ – Lloyd Blankenfein
“Money is close to a free commodity,” Blankfein said. “And when something is free, you tend not to husband it, you tend to overuse it like it’s a free good.”
USAGOLD note: Blankenfein goes on to say that “people” are lending money to the U.S. Treasury “as if there would never be inflation again.” Do those “people” by any chance occupy offices at the Marriner Eccles Building? The former CEO for Goldman Sachs, we remind ourselves, was once a gold trader who most likely understands all too well the dangers of the printing press and with it the ancillary creation of both moral hazard and market bubbles.
Repost from 10-16-2020