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A Few Questions To Those Who Slam Gold

May 27, 2016

Gold is perhaps the most maligned asset class in the world.

On an almost weekly basis the financial media mocks gold -- and publishes articles claiming it is a terrible investment.

It’s rather odd, as less than 1% of investors actually owns gold. Why is it so important to trash an asset class that almost no one actually owns?

Actually, forget that question, I’d like to see answers to these questions instead…

If owning Gold is such a bad idea…

Why are Central Banks buying it?
Why do we rank countries based on the gold reserves they own?

And finally…

If the goal for Central Banks is to generate inflation…why is owning gold stupid?

Regarding that last point, global Central Banks have completely abandoned the façade that they are trying to generate growth.

The Bank of Japan’s Kuroda even admitted indirectly that QE and ZIRP couldn’t work. Mario Draghi never even uses the word “growth” anymore. And the Fed is concentrating on “inflation targets” because GDP growth is impossible.

Put simply: Central Banks care concentrating on inflation. The reason for this is because they’ve finally come clean that their primary concern is the bond bubble, NOT the real economy.

Gold is perhaps the best inflation hedge in the world. During the last inflationary binge in the ‘70s it staged on the biggest bull markets in history.

So… with Central Banks pushing for inflation… and inflation turning up in the US… why is owning gold a mistake?

Inflation is back. And gold and gold-related investments will be exploding higher in the coming weeks.

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Graham Summers

Chief Market Strategist

Phoenix Capital Research

Graham Summers is Chief Market Strategist for Phoenix Capital Research, an independent investment research firm based in the Washington DC-metro area with clients in 56 countries around the world.

Graham’s clients include over 20,000 retail investors as well as strategists at some of the largest financial institutions in the world (Morgan Stanley, Merrill Lynch, Royal Bank of Scotland, UBS, and Raymond James to name a few). His views on business and investing has been featured in RollingStone magazine, The New York Post, CNN Money, Crain’s New York Business, the National Review, Thomson Reuters, the Glenn Beck Show and more.