I found it amusing that Mohamed El-Erian wrote an opinion piece for Bloomberg which asserted that gold is not much of a “safe haven these days.” His thesis was entirely devoid of material facts. His underlying rationale was that safe haven capital was flowing into cryptocurrencies rather than gold. I guess if one has a western-centric view of the markets, that argument is a modicum of validity. However the scope of the analysis omits that fact that the entire eastern hemisphere is converting fiat currency at a record pace into physical gold that requires bona fide delivery outside of western custodial roach motels.
Elijah Johnson invited me onto his podcast sponsored by Silver Doctors to discuss why the financial upheaval beginning to engulf the United States will be much worse than the 2008 “Big Short” crisis. We also discussed by the precious market has always been and will continue be the best place to seek shelter from coming financial hurricane:
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