“Gold is Money” Everything Else is Credit
“Gold is money. Everything else is credit.” Those were the words of investment banker J.P. Morgan in his testimony before Congress in 1912. Morgan became the wealthiest banker in the U.S. at the end of the 1800s and early 1900’s by lending out dollar loans far in excess of the gold his bank had in reserve. Because […]
Latest Update From The Desk Of Chris Temple
Most any portfolio has elements along the way we could call good, bad and ugly. We try to keep the latter two to a minimum, of course! But that hasn’t been the case as much in the recent past; and as you know, I may still decide to trim some dead wood in the days […]