The coming age of disorder will favor commodities

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The coming age of disorder will favor commodities

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Bloomberg/John Authers/9-11-2020 “This isn’t appealing. Betting on a return to inflation might be a good idea. And indeed,

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Bloomberg/John Authers/9-11-2020

photo of open book, reading glasses with notation 'a good weekend read'“This isn’t appealing. Betting on a return to inflation might be a good idea. And indeed, the only period in which commodities outperformed was the stagflationary 1970s. As commodities (excluding precious metals) have been mired in a bear market for more than a decade, and have a historical tendency to move in long waves, maybe that is one asset class to look at. But many trends of the last decade seem to have been taken as far as they can go, if not too far. Extrapolating them further into the future would be a bad idea.”

USAGOLD note:  Running out of room at the end of the rainbow …… A stagflationary outcome is one that keeps cropping up among thinkers we happen to respect. The thing about gold and silver is that they will likely participate in a commodity boom and be at the ready for safe-haven purposes even if it doesn’t. Auther’s latest draws from the thinking of Deutsche Bank’s “veteran financial historian” Jim Reid who says we are entering the Age of Disorder – the sixth economic era since the American Civil War – and one, as its name implies, likely to be fraught with danger.

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