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They're called the "hard money crowd" because they fancy themselves to be proponents of "solid" or "sound" money - that is, low inflation.

Less charitably, they could be called the "hard money crowd" because they are in favour of pretending that their domestic currency is a hard currency.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Jan 26th, 2011 at 02:50:54 PM EST
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You can also call them Austrians.

They definitely behave like gold bugs, their gold being the Deutsche Mark.

In their futile attempt to preserve their net worth in a deleveraging, they kill the economy and their own net worth with it.

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman

by Migeru (migeru at eurotrib dot com) on Wed Jan 26th, 2011 at 04:10:09 PM EST
[ Parent ]
And as we've entered a Dark Age of Macroeconomics(tm) they probably haven't even heard of the Paradox of Thrift...

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Thu Jan 27th, 2011 at 08:14:53 PM EST
[ Parent ]

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