Particularly if America plunges into another recession.
That consensus could be replaced by expectations of a brand new stimulus program, either by Congress or the Fed. Or both.
Perhaps the central planners will even start mailing us all checks – early tax rebates or the like – so we go out and spend.
Buiter’s call for shoving money down everyone’s throat is representative of the philosophy that pervades the Federal Reserve and Washington DC: There can never be too much stimulus or money creation.
If stimulus is failing, it is simply because it is inadequate.
It is time to double down.
Couple Buiter’s request for “helicopter money” with his recent modest proposal to abolish cash – an idea gaining real traction with policy makers and the major banks – and you have everything you need to know about why it is important to hold physical gold and silver.
This article is brought to you courtesy of Stefan Gleason.