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Alasdair Macleod: Inflation will outrun interest rates in 2017

Section: Daily Dispatches

11a ET Thursday, December 22, 2016

Dear Friend of GATA and Gold:

Describing his outlook for 2017, GoldMoney research director Alasdair Macleod today explains why he thinks it will be a good year for gold.

Macleod writes: "This year bulls of precious metals have ridden a roller-coaster of hope followed by disillusionment. Much of the frustration has been due to the bullion banks seizing the opportunity presented by a strong dollar to force closure of their short positions on Comex. Meanwhile, for hedge funds, short-term positioning in gold has been an easy way to play the strong dollar, which is why money managers morphed from earlier bulls to a mixture of bears and don't-knows. Next year is shaping up to be an entirely different matter. ...

"The defining economic feature of 2017 is almost certain to be increasing rates of price inflation and interest rates that are unlikely to rise by enough to stop it without triggering a debt crisis. These are precisely the conditions that will disfavor government currencies, measured in gold, and have actually been in place to a greater or lesser extent for a considerable time."

Macleod's commentary is headlined "Outlook for 2017" and it's posted at GoldMoney here:

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


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