Via his Twitter feed, Nouriel writes “Gold is the new sub-prime bubble, only worse: leveraged 25-40x not just 5-10x”
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Roubini has been hammering on gold for years now. He has been wrong the entire time. So this time he is “right”?
And why would that be?
If I quote someone who says you should give me all of your money, would you trust me on that one?
Rube-eeni is a one hit wonder asshat.
And a Krugmanesque Stimulator. He HAS to hate gold.
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Roubini is right now. and he was also right when he recommended gold. By “leveraged” gold, he can only mean gold certificates. The paper is leveraged, the gold itself of course not. When the bubble bursts, paper gold will be worth nothing and physical gold will be worth much more than now.
In other words: Roubini is not contradicting himself now.