Mark Boucher submits:
The Ricochet of An Unstable Currency System
In the midst of crisis it is often valuable to step back a bit and try and understand the historical context of what is happening. Such insight can prove invaluable in being able to foresee where things may be going on a longer-term basis and to provide clues to the meaning and possible implications of unfolding events. As economist John Kenneth Galbraith once observed, “…the enemy of the conventional wisdom is not ideas but the march of events.” If we can put the pieces of the puzzle of history and the march of new events together to see the underlying picture, we will understand better what is happening and what is likely to evolve – and that can pay dividends in our investment approach.