Lawrence Lepard: Why gold should do well on the way to hyperinflation

Section:

12:34p ET Sunday, April 19, 2020

Dear Friend of GATA and Gold:

All the reasons gold should do extraordinarily well in the new environment of beyond-infinite money provided by the Federal Reserve and other central banks on the way to hyperinflation are brilliantly detailed in the first-quarter 2020 report by Lawrence Lepard of Equity Management Associates in Wellesley, Massachusetts.

Lepard notes that historically every $500 billion increase in U.S. government budget deficits has meant a $500 increase in the price of gold, in which case current deficit projections forecast a gold price around $6,000.

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Lepard also argues that even more inflation will result if, as seems likely, foreign investors don't keep buying U.S. government bonds.

But Lepard acknowledges that "financial repression" by governments may extend to gold confiscation and expropriation of gold mines, even as he does not address the prospects of continued success for the gold price suppression aspect of "financial repression" policy.

With Lepard's kind permission his report is posted in PDF format at GATA's internet site here:

http://gata.org/files/EMA-GARP-Fund-Letter-04-2020.pdf

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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EMA-GARP-Fund-Letter-04-2020.pdf3.5 MB