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USAGold's December letter: The masters of the universe and gold
2:22p ET Tuesday, November 30, 2021
Dear Friend of GATA and Gold:
USAGold's "News & Views" letter for December examines how the U.S. Treasury bond market is now almost entirely a creature of the Federal reserve, which has been monetizing most of the federal government debt undertaken in the last decade.
Gold, the letter suggests, quoting market analyst Charlie Morris, is a sort of bond itself, and a much more attractive one because:
-- It is a zero-coupon because it pays no interest.
-- It has a long duration because it lasts forever.
-- It is inflation-linked, as historic purchasing power has demonstrated.
-- It has zero credit risk, assuming it is held in physical form.
-- It was issued by God.
Maybe that's why governments and central banks feel so obliged to manipulate the gold price -- to weaken its competition with government-issued bonds.
The USAGold "News & Views" letter for December is headlined "The Masters of the Universe and Gold" and it's posted here:
CHRIS POWELL, Secretary/Treaurer
Gold Anti-Trust Action Committee Inc.
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Toast to a free gold market
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