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Doug Pollitt: Devaluing dollar and debt by revaluing gold is getting respectable
9:40a ET Wednesday, May 18, 2016
Dear Friend of GATA and Gold:
May's market letter by Doug Pollitt of Pollitt & Co. in Toronto reflects on the growing respectability of devaluing the U.S. dollar and debt by the upward revaluation of gold. Devaluation of the dollar against gold in 1934 was, Pollitt writes, the most successful provision of President Franklin D. Roosevelt's New Deal. Pollitt's letter is headlined "Pimco Goes Full Goldbug" and he has kindly given GATA permission to share it with you in PDF format here:
http://www.gata.org/files/PollittMarketLetter-05-2016.pdf
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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http://gata.org/node/wallstreetjournal
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