The Deceit of Gold by C. M. Flumiani

The Deceit of Gold
by C. M. Flumiani

Book Description: The American Classical College Press, Albuquerque, 1973. 1st Edition. 4to - over 9¾ - 12" tall. Softcover, Plastic spiral bound, Green card wraps with hand written black felt pen title to cover with yellow felt pen underlining (in true Flumiani style), Approximate publication date is 1973 although there is no clear reference in the book.

Book Condition: Very Good, some age toning to wraps and text, and corners are bumped. Pages are clean and free of marks, overall in Very Good physical condition. No Dust Jacket.

Contents: First I must say that this is the most passionate of all the books I've read by Flumiani. The tone he writes with is "rage" for almost 50 pages as he rants and continues to rant about the "deceit" of GOLD and the "deceit" of a long list of other organizations, concepts and ideas. If you're a perma-bear you'll love this one. It's just very interesting to me that Flumiani had such a strong opinion about the lack of GOLD's value. He was VERY adament that the price of GOLD was going to move lower and I feel including this excerpt if the best way to describe the main concepts and tone of the book. This is from page 2 where he talks about the nine deceits of gold: "BUT GOLD HAS also lost its second precious advantage: the advantage of a stable price. In 1972, the price of gold was approximately $50 an ounce. In February of 1973, the international price had increased to $65 an oz. Just one month later, the price had climbed to $90 an oz. and there are to-day individuals lecturing and writing to the effect that very soon GOLD will be selling at $380, and even at $500 an oz. These individuals are, of course, mad: they are absolutely insane, but they are always able to find an audience who will listen to them so ignorant and so prone to deceit are the masses, the living masses of mankind. In the face of price changes as the ones indicated above, GOLD is no longer, of course, a commodity with price stability and on this score along, it is utterly unfitted to be used as an international monetary currency." -- Whew, that's some spirited prose. As with many of Flumiani's books, the title is "sometimes" what the book contains and this one is no different. The first 18 pages are specifically about the Deceit of GOLD and his view on some monetary issues, but the rest 53 pages are somewhat related but he goes on to ramble about the "13 Major Deceits of the Wall Street Intellectuals," "The Deceit of Devaluation," "The Magic Deceit of the P/E Ratio." and a few more rants. Flumiani is strong in his convictions and it's one of the reasons his books are so entertaining to read, even if you don't agree with his opinions. What makes it even more fun is reading this book in 2010, 37 years after this was written and to see Gold at $1100 oz. Looks like burying a pound of gold in the back yard in 1973 would have been a good idea. Very Rare Flumiani Title. Collectible.

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