Alasdair Macleod: 2015, the year of the slump?

Section:

12:01p ET Friday, January 9, 2015

Dear Friend of GATA and Gold:

The hastening decline in the world economy will increase systemic risks, GoldMoney research director Alasdair Macleod writes today.

The slump, Macleod writes, "can be expected to undermine global equities, property, and finally bond markets, which are currently all priced for economic stability. Even though these markets are increasingly controlled by central bank intervention, it is dangerous to assume this will continue to be the case as financial and systemic risks accumulate."

Macleod concludes: "Precious metals are ultimately free from price management by the state. Furthermore, they are the only asset class notably under-priced today, given the enormous increase in the quantity of fiat money since the Lehman crisis. In short, 2015 is shaping up to be very bad for fiat currencies and very good for gold and silver."

Macleod's commentary is headlined "2015: The Year of the Slump?" and it's posted at GoldMoney's Internet site here:

http://www.goldmoney.com/research/analysis/2015-the-year-of-the-slump?gm...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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