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Alasdair Macleod: The reasoning behind gold's breakout
11:12p ET Thursday, July 25, 2019
Dear Friend of GATA and Gold:
In his new essay, "The Reasoning Behind Gold's Breakout," GoldMoney research director Alasdair Macleod delightfully explodes eight of the common myths about gold, myths tightly held by investment fund managers:
-- Gold is no longer money.
-- Gold doesn't pay interest.
-- Gold is expensive to store and insure.
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-- Gold has no intrinsic value.
-- Gold has no use beyond looking pretty.
-- Gold is volatile.
-- Gold is a "greater fool" investment.
-- Gold's value was higher 40 years ago in real terms.
Macleod concludes: "With governments everywhere itching to increase spending without raising taxes and as the global economy sinks into a trade and credit-cycle-induced recession, budget deficits will fuel monetary inflation at a faster pace than seen before. Relearning that gold is sound money is now the most urgent priority for all those charged with responsibility for other people's investments."
Macleod's analysis is posted at GoldMoney here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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