Thursday, November 27, 2008

Gold again touted as 'safe haven' - Jonathan Chevreau National Post

He's convinced the rampant printing of currency by central banks will create hyper-inflation.

"The paper world is in a bear market and will be for some time ... the U. S. money supply has gone parabolic, which tells you the financial system is broken."

Nor does Yahn view fixed income as a safe harbour: "The biggest bubble on Earth now is the U. S. bond market." He views gold's recent doldrums as temporary. "We'll find out if the answer is deflationary depression or hyperinflation in the next six to nine months." No paper money in the history of mankind didn't eventually fall to zero, he says, while "there's no limit to how high gold can go."

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