Only Believe in Gold

The inevitable is now in process, policy makers are not going to be able to avert inflation and economic retrenchment, markets are starting to recognise reality. The credit of the United States has been downgraded, the euro is in a death spiral, nations teeter on the brink of bankruptcy. Power and wealth are shifting eastwards on a tectonic scale. Ever since the 2008 credit crisis and the doomed attempt by central bankers to solve the underlying debt crisis with more debt and inflation. All predictable, in the case of the euro almost every eurosceptic from John Redwood to Nigel Farage predicted it down to even the exact catalyst – Greece – a decade ago.

Step forward Andrew, Lilico formerly at Policy Exchange, who is equally as pessimistic as Guido, as long ago as 2009 he predicted a double dip with“double digit inflation and probably a recession in 2013 – stagflation.”

At the same time Guido argued that

Mervyn King even talks about the threat from deflation – Guido sees that merely as an excuse to justify printing even more money via quantitative easing (QE). QE means inflation is inevitable. 

Get your wheelbarrows out, stock up on gold and baked beans. If you can, buy a productive asset, like farm land – it is an inflation hedge and you won’t go hungry. 

Here comes inflation – as it always does when governments turn on the printing presses…

Guido wrote in 2008

“holding gold will be insurance as much as an investment. If you have apocalyptic fears, holding physical gold coins is reassuring.

In 2009 Guido marked the

“symbolic of the end of the twentieth century Anglo-American dominance of the world” with “the purchase by the Indian Central Bank of  200 tonnes of gold from the IMF.  The Indian Central Bank paid an average of $1040 per ounce.”

Mr & Mrs David & Maureen Somers must be doing pretty well now.

Told you so…

See also : The Bank of England’s Great Inflation SwindleComing Soon : Double Digit InflationDouble Digit Inflation is a Black SwanBank of England Pension Fund Surges Betting on InflationYo Dude, Where’s the Deflation?UK Dec CPI Posts Largest Jump On Record to 2.9%Growing Unease About Old Lady’s SecrecySomething Odd in the Banking Bill




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Quote of the Day

George Osborne paraphrases Boris, telling the FT:

“If the ball came loose at the back of the scrum, I wouldn’t fumble it”

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