2 June 2005

Yes–Immigrants Are Useful

My day job involves following the gold and gold share market. A bright star in this firmament recently has been Tim Wood’s Resource Investor webzine. Last week he engaged in a debate with GoldMoney’s James Turk on the issue of whether the gold market is subjected to Central Bank manipulation. He maintains it is not. (My vote is with James Turk.)

In the course of this Tim said:

There is concerted effort led from all branches of government to ensure that wage prices at the lower end of the market do not rise and they do that by allowing the importation of vast quantities of illegal immigrants who suppress what would otherwise be a market price.

As precise and accurate a comment as is possible. Note to NeoCon Central: not all immigrants are desirable.