Over six years ago, former-Goldmanite and head of The New York Fed Bull Dudley proudly proclaimed how the price of iPads was dropping when confronted by an unruly audience demanding to know why their food costs were soaring, prompting guffaws and widespread murmuring from the audience, with one audience member calling the comment “tone deaf,” and another quipping “I can’t eat an iPad.”
Dudley’s infamous ignorance will never be forgotten and as The Fed continues to pump the prices of stocks up (which you also cannot eat) and the price of putting a roof over your head is soaring (also non-edible), Martin Armstrong put us straight on one potential inflation hedge… that it turns out you can eat…
I am working from the Abu Dhabi office this week meeting with clients in town.
I thought I would post something unusual.
In the Emirates Palace, you can have a cup of coffee with gold on top you can drink.
You can also order ice cream made from camel milk top with real gold you can eat.
Interesting use of gold.