The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content


(Matthias Haas/iStockphoto)

SCOTT BARLOW

Sorry, gold bugs, Fed has no effect on money supply: economist

ROB Insight is a premium commentary product offering rapid analysis of business and economic news, corporate strategy and policy, published throughout the business day. Visit the ROB Insight homepage for analysis available only to subscribers.

A former hedge fund manager is making a dramatically counterintuitive argument that is sure to enrage gold investors – U.S. Federal Reserve money printing has no effect on overall U.S. money supply. The truly strange thing is that it looks as though he’s right, at least for now.