{"id":29065,"date":"2017-12-21T16:12:24","date_gmt":"2017-12-21T21:12:24","guid":{"rendered":"http:\/\/olduvai.ca\/?p=29065"},"modified":"2017-12-21T16:12:24","modified_gmt":"2017-12-21T21:12:24","slug":"gold-only-safe-asset-left-david-stockman","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=29065","title":{"rendered":"Gold Only Safe Asset Left \u2013 David Stockman"},"content":{"rendered":"
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Gold Only Safe Asset Left \u2013 David Stockman<\/a><\/h3>\n<\/header>\n
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\"\"<\/a><\/strong>Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman. Stockman contends, \u201cI don\u2019t think we are going to have a liquidity crisis.\u00a0 I think it\u2019s going to be a value reset.\u00a0 I think there is going to be a jarring downward price adjustment both in the stock market and in the bond market. \u00a0This phantom or phony wealth that has been created since the last crisis is going to basically evaporate.\u201d<\/p>\n

So, what asset is safe? Stockman says gold and goes onto explain, \u201cI think the time to buy (gold and silver) is ideal. \u00a0Gold is the ultimate and only real money.\u00a0 Gold is the only safe asset when push comes to shove.\u00a0 They tell you to buy the government bond, that\u2019s a safe asset.\u00a0 It\u2019s not a safe asset at its current price.\u00a0 I am not saying the federal government is going to default in the next two or three years.\u00a0 I am saying the yield on a 10-year bond of 2.4% is way below of where it\u2019s going to end up.\u00a0 So, the only safe asset left is gold.\u00a0 This crazy Bitcoin mania has drained off what would otherwise be a demand for gold. . . . When Bitcoin collapses, spectacularly, which it will because it\u2019s sheer mania in the markets right now.\u00a0 When it collapses, I think a lot of that demand will come back into gold, as well as people fleeing the standard stock and bond markets for the first time in 9 or 10 years.\u201d<\/p>\n

What about the so-called Trump tax cuts? Stockman predicts, \u201cI think it\u2019s going to be a fiscal calamity of Biblical proportions.\u00a0 I want to be clear. \u00a0I am always for tax cuts and shrinking the size of government, but you have to earn it.\u00a0 You have to cut spending and entitlements and this massive defense budget.<\/p>\n<\/div>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold Only Safe Asset Left \u2013 David Stockman Record high stock and bond prices are flashing danger signs to former Reagan White House Budget Director David Stockman. Stockman contends, \u201cI don\u2019t think we are going to have a liquidity crisis.\u00a0 I think it\u2019s going to be a value reset.\u00a0 I think there is going to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[39,4174,5185,2120,374,8757,1138,9699],"class_list":["post-29065","post","type-post","status-publish","format-standard","hentry","category-economics","tag-assets","tag-bitcoin","tag-bond-market","tag-david-stockman","tag-gold","tag-greg-hunter","tag-stock-market","tag-usa-watchdog"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29065"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29065\/revisions"}],"predecessor-version":[{"id":29066,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29065\/revisions\/29066"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}