Word: goldbugs
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...ruinous wars, revolutions and often drastic currency devaluations-that a few kilos of gold buried in a flower garden are sometimes the only insurance against personal financial disaster. Almost half of the entire 8,900 tons of gold held privately in Europe is in France. Today's French goldbug, says Paris Financial Editor René Sedillot, "is apt to be a peasant or a workingman, not a sophisticated capitalist. It's no use telling such hoarders that they ought to buy stocks. In their eyes, gold is a tried and true friend. It's part...
Meanwhile, in the absence of any more formalized official price policy, price theorists have been making a private Babel of the subject. Among them: Hugh Johnson, Dr. William Trufant Foster of the Pollak Foundation, Economist Frank Ashmore Pearson (of Cornell's once famed goldbug team of Warren and Pearson), Brookings Institution's Harold G. Moulton, Brookings' Charles O. Hardy, whose Wartime Control of Prices, written for the War Department, appeared last month...