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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Alasdair Macleod: Will the coronavirus lead to a gold standard?

By cpowell
Created 2020-02-20 18:53

By Alasdair Macleod
GoldMoney.com, St. Helier, Jersey, Channel Islands
Thursday, February 20, 2020

Even before the coronavirus sprang upon an unprepared China the credit cycle was tipping the world into recession. The coronavirus makes an existing situation immeasurably worse, shutting down China and disrupting global supply chains to the point where large swathes of global production simply cease.

The crisis is likely to be a wake-up call for complacent investors, who are content to buy benchmark bonds issued by bankrupt governments at wildly excessive prices. A recession turned by the coronavirus into a fathomless slump will lead to a synchronised explosion of debt issuance for which there are no genuine buyers and can only be monetised.

... Dispatch continues below ...



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The adjustment to reality will be catastrophic for government finances, and their currencies. This article explains why the collapse in overpriced financial assets and fiat currencies is likely to be rapid, perhaps giving ordinary people in some jurisdictions an early prospect of a return to gold and silver as circulating money. ...

... For the remainder of the analysis:

https://www.goldmoney.com/research/goldmoney-insights/will-covid-19-lead... [4]

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Source URL:
http://www.gata.org/node/19859