The Political Constituencies for Gold

Committee for Monetary Research and Education
“Among those present were: Sean Fieler, Jim Grant, William Midderdorf, David Townes,
Ed Thompson (Ayn Rand Inst), Louise and Dan Oliver, and Dan Oliver Jr. (Myrmikan Capital, NYC).
There was a strong attendance; there was no discussion this time of the international scene.
The best speech was by Lew Lehrman on the need for the Money stated in the Constitution.
Lehrman is a scholar (taught European history at Yale and edited seven volumes of writings of
Jacques Rueff) and businessman. He ran for NY gov ag. Mario Coumo in 1982 (a bad year for GOP).
The next best speech was by Prof. Thomas Rustici, prof of economic history, George Mason University,
Tom was a student of Tom DiLorenzo at GMU and I awarded him about thirty years ago the IHS
undergraduate first prize for a term paper on how extending US minimum wage law to Puerto Rico
destroyed its economy. He is an excellent teacher for undergraduates and brought six students
to the meeting. Edwin Vieira again gave a strong speech on Money and the Constitution.
James Rogers gave a video discussion from his home in Singapore. He dismissed investment in
stocks and called attention to demands for natural resources. He could have said that the growth
of US regulation is turning US into a nature reserve for all creatures except human beings.
Alasdair Macleod and Chris Powell spoke on the continued demand for gold. Some points:
there has not been an audit of gold holdings of central banks, so hard to know how much gold
is in the world system. There are requirements that gold should be held in New York, Paris,
London and New Dehli.” -LPL