280 THE BiG DROP
as inverse of the dollar, 123
rise of, from 1960s to 1980s, 144
rise of, in deflationary times, 144, 215
rise of, in dystopian future, 3
rise of, in late 2014, 151
rise of, in the 1930s, 144
tracked relative to the Continuous
Commodity Index, 149–50
gold royalty companies, low financial
risk of investing in, 208–10
gold standard
effects of going off the, 121–22
return to some kind of, 145–46, 190
United Kingdom’s adoption of, 21
gold trading, ban on, in dystopian
future, 3
gold-mining companies
caution needed in selecting among,
162
nationalization of, 247
Goldman Sachs, positioning by, for
demand shock to gold, 159–60
Goldman-Nichols Act of 1986, joint
operations and joint command en-
shrined in, 207
Gould, Jay, successful effort to corner
the gold market by, 153
government
inflation’s benefits to, 64–65
as not monolithic, 259–60
Grant, James, on “good deflation” and
“bad deflation,” 71
Great Depression, 14–15, 28–29
choice of gold price as contributor
to, 121
dating the, 240
inflation, deflation, and devaluation
in the, 144
a new history of the, 241–44
private initative kept alive during
the, 243
Grenada, invasion of, 206–207
growth
global slowdown in, 80
monetary and structural barriers to, 16
weak prospects of global, 112
weak U.S., 114growth forecasts, perpetually inflated,
15, 25–26, 112, 114, 182
growth statistics, Chinese, overstated,
74
growth trends
cumulative effects of, 16
in depression, 13–15
historical, 14H
hard assets, for preserving wealth
against inflation, 50, 57, 60–62
hate crimes, in dystopian future, 5
Havenstein, Rudolf, role of, in the
German hyperinflation, 237–38
Hayek, Friedrich, on central planning,
258
hedge funds
regulation of, 84
sovereign wealth funds as, 31–32
helicopter money, 54–55
Hoisington, Van, as successful manager
of a Treasury-only mutual fund, 211
Hollow Men, The (Eliot), 25
Hoover administration, depression-era
activism of, 241
Humphrey-Hawkins Full Employment
Act of 1978, dual mandate created
under, 177–78
Hunt Brothers, infamous attempt to
corner the silver market, 153
hydraulic fracturing. See fracking
hyperinflation
debtors and creditors under, 48
definition of, 47
in dystopian future, 3–4
in France, 120
historical episodes in United States
of, 47
Hugo Stinnes’ success under, 59–61
as inflationary stage, 46, 66
insurance against, 232–34
psychological/behavioral basis of, 48
real possibility of, 46–50
in the United States in the 1970s, 49
velocity as ingredient in, 47–48