In his latest letter to shareholders, Oaktree's Howard Marks, whose missives are highly anticipated on Wall Street, this time shares his reflections on gold.
Read it in the slidedeck below or download a PDF of it here.
"All That Glitters" - Oaktree Capital's Howard Marks on Gold
Marks does not understand monetary theory. He says that gold would restrict growth. Not so. Credit would still expand and contract as needed. Read Anatal Fekete to see how this happens under a gold standard.
Roy Chanyi