“Investor money looking for safe assets should be the factor” driving gold lower, said Tetsuya Yoshii, vice president for derivative products with Mizuho Corporate Bank Ltd. in Tokyo.
I always try to be respectful, but this commentary, disinformation really, only fuels the fear of holding gold. If the US dollar is truly safe haven asset, the price of gold in US dollars (any fiat currency) would have been declining since the start of the third great depression in 2000. Clearly, this is not the case.
As the top layers of debt implode, the financial system falls towards the point of gold - the true safe haven.
Inverted Financial Pyramid:
Source: bloomberg.com
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