Steve Saville Channels His Inner Gold Bug

He is one of the rational gold bugs, mind you.

In this post he discusses interest rates and the increasing desire to save among casino patrons (my term, obviously), which would begin their reform from that descriptor.

The Rising Interest-Rate Trend

2 year yield

It’s just that the desire for greater savings won’t manifest itself as a greater desire to hold cash. It will, instead, manifest itself as a desire to hold more of something with near-cash-like liquidity that is not subject to arbitrary devaluation by central banks and governments. Gold is the most obvious example.

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