yes, it makes a lot of sense. This in particular makes perfect sense to me:
However, should there come a true, total crisis, my feeling is that the most independent variable will be good enough––even if they are all interlocked... That's a great way to put it. Everything is interlocked and we're all looking for how they behave relative to each other. Right now, gold is acting like a last resort type asset, which is why I like it for now. I'm not a goldbug, so won't be a perpetual holder. It's just right now that I think it's a decent bet. I think the crisis will come eventually, but we're likely to be waiting for it far longer than anyone thinks. But I think we have more to go on gold to the upside over the next year, because I think there are still so many risk factors out there beyond just currency devaluation, which could be a catalyst for mayhem, which favors gold as security. When things start to calm down and real rates turn positive, I will probably re-evaluate my gold holdings. |
