Gold is now more important than ever
By GCRU Gold News on Monday, May 18 2015, 10:40 - Permalink
“We have talked about this relay race to debase. Clearly, the euro and the yen are at the vanguard at the moment but prior to that it had been sterling and the US dollar. The reason to hold gold is because we feel this race to debase is, if anything, likely to pick up speed and will not be reversed.”
Central banks, such as the US Federal Reserve, Bank of England, Bank of Japan and the European Central Bank have all tried to devalue their currencies over recent years in order to reflate their economies and reduce the cost of their debt.
Gold had been the go-to asset for investors in the years building up to and immediately after the financial crisis.