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Alasdair Macleod: Gold and the coming recession
By Alasdair Macleod
GoldMoney, Toronto
Thursday, July 21, 2022
We are now seeing the initial stages of a currency, credit, and banking crisis develop. Driving it are an inflation of prices, contraction of bank credit, and a pathological fear of recession. One can imagine that the major central banks almost wish a mild recession upon us so that they can keep interest rates suppressed and bond yields low.
The key to understanding the course of events is that the cycle of bank credit is turning down, and this time the factors driving contraction are greater than anything we have experienced since the 1930s, and possibly in all modern monetary history.
This article joins the dots between inflation and recession and puts the relationship between money (that is only gold), currencies, credit, and commodity prices into the proper perspective. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/gold-and-the-upcoming-recession?gmrefcode=gata
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