Germany’s finance minister has announced that Berlin could make 50 billion euros available for stimulus spending, following an announcement by the Bundesbank concerning recession risks. This podcast (6:06) argues that such an un-German move speaks profoundly to the near universal inhalation of the debt narcotic. When the next crisis occurs, debt will likely be deeply implicated. Advisors should therefore consider an allocation to gold, which is apt to strengthen in a financial crisis, as the only time-tested safeguard against high and rising inflation.
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