Loading ...“…gold ought not to trade as an inflation hedge, but as an investment in monetary disorder of which we surely have enough in the world…”
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He’s right. Even in a massive deflation people will lose confidence in the system. This happened with the Fed Caused money printing crash of 1929.
They were forced to raise the gold price from $20 to $35/oz about 70% higher. To get the dollar lower and prices higher. They banned ownership first at $20 then raised it to $34.