Richard Werner, critiques a mainstream finance professor’s focus on the “psychology of gold” amid a recent gold price surge to $3,678.26 per ounce as of September 2025, suggesting the real issue lies with economic models that underestimated gold’s value, as evidenced by Paul Samuelson’s 1973 prediction of gold stabilizing at $68, which ignored its role as a hedge against inflation.

Historical data supports gold’s resurgence, with Russia’s central bank holding 2,329.63 tonnes in Q2 2025 and global investors shifting to safe-haven assets amid market uncertainty, challenging Samuelson’s 1970 Nobel-winning view that gold lacks economic significance, a stance now contradicted by its 78% price increase since January 2024.

Research from the Journal of Economic Perspectives (2010) indicates central banks’ growing gold reserves correlate with distrust in fiat currencies post-2008, suggesting the professor’s study might distract from structural economic vulnerabilities rather than irrational investor behavior

Richard Werner, is one of the greatest!