COMING ECONOMIC COLLAPSE GUARANTEES SOCIALISM

Friday, May 17, 2019
By Paul Martin

by Egon von Greyerz
GoldSwitzerland.com
May 17, 2019

How can a small clique of gold owners holding less than 0.5% of world financial assets be right? They are clearly a minuscule minority of obstinate goldbugs and contrarians who are living in the past. Or do these people see something that the majority of investors don’t?

More than 99.5% of world financial assets are invested in other things but gold. That makes gold one of the least desired asset classes on the planet. Most professional as well as private investors would never consider gold as part of their portfolio.

IT IS DIFFERENT TODAY

Yes, gold has always been money but it is different today. Gold doesn’t work as money. There is not enough of it and it is very impractical to hold and even worse to pay with. You can’t, in a convenient way, transfer it without going through the financial system.

Clearly, fiat money, with electronic transfers or crypto money must be the way forward. And the great advantage with such money is that you can create unlimited amounts of it with just a touch of a button. Who needs gold in this new modern world?

The above are all the typical arguments of the anti-gold mob. The Keynesian crowd with their cheer leader Krugman and the MMT (Modern Money Theory) followers are totally convinced that unlimited money printing and deficit spending is the only way forward. And since this has worked for the US for the last 60 years, it must clearly work forever. So why can’t the US continue to run chronic budget deficits, just as it has since 1960?

AOC – A SAVIOUR OF THE US ECONOMY

The Rest…HERE

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