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Alasdair Macleod: Gold has never been so attractive
By Alasdair Macleod
Thursday, September 22, 2022
In our lifetimes we have not seen anything like the developing economic and financial crisis. Rising interest rates are way, way behind reflecting where they should be.
Interest rates have yet to discount the continuing loss of purchasing power in all major currencies. The theory of time preference suggests that central bank interest rates should be multiples higher to compensate for the current loss of currency purchasing power, enhanced counterparty risk, and a rapidly deteriorating economic and monetary outlook.
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There is no doubt that the majority of investors are not even aware of the true scale of danger that interest rates pose to their financial assets. Some wealthier, more prescient investors are only in the early stages of beginning to worry.
But if you liquidate your portfolio, you end up with depreciating cash paying insufficient interest. What can you do to escape the fiat currency trap?
This article argues that having everything in fiat currencies is the problem. The solution is a flight into real money -- that is only physical gold, as the rest is rapidly depreciating fiat credit.
Owning real money is the only way to escape the calamity that is engulfing our current economic, financial, and fiat currency world. ...
... For the remainder of the analysis:
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