{"id":50341,"date":"2019-12-29T12:03:23","date_gmt":"2019-12-29T17:03:23","guid":{"rendered":"https:\/\/olduvai.ca\/?p=50341"},"modified":"2019-12-29T12:03:33","modified_gmt":"2019-12-29T17:03:33","slug":"taking-the-hard-way-out","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=50341","title":{"rendered":"Taking the Hard Way Out"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/blog.evergreengavekal.com\/taking-the-hard-way-out\/\">TAKING THE HARD WAY OUT\t<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/blog.evergreengavekal.com\/wp-content\/uploads\/2019\/12\/silver-gold-bars-1024x687-1.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cYou don\u2019t make mistakes when you don\u2019t have money. When you have too much money, you will make a lot of mistakes.\u201d<\/em><br>\u2013 Jack Ma, founder of Alibaba, the Amazon of China<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cMy view is simple and starts with the observation that gold is a lot like religion. No one can prove that God exists\u2026or that God doesn\u2019t exist\u2026Well, that\u2019s exactly the way I think it is with gold. Either you\u2019re a believer or you\u2019re not.\u201d<\/em><br>\u2013 Howard Marks, founder of OakMark, whose newsletter Warren Buffett reads \u201creligiously\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cBecause of Paul Volcker, our financial system is safer and stronger. I\u2019ll remember Paul for his consummate wisdom, untethered honesty, and a level of dignity that matched his towering stature.\u201d<\/em><br>\u2013 Barack Obama<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cEvery penny of QE undertaken by the Fed that cannot be unwound is monetized debt.\u201d<\/em><br>\u2013 CNBC regular and former senior advisor to the president of the Dallas Fed, Danielle DiMartino Booth<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">______________________________________________________________________________________________________<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>SUMMARY<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Interest rates and inflation couldn\u2019t be more different today than they were in the 1970s.<\/li><li>One of the shocking surprises of the last decade is that despite ultra-low, zero, or, even, negative interest rates inflation has generally fallen rather than risen.<\/li><li>Yet, when it comes to asset prices (US stocks, global bonds, and real estate), it has been a completely different story.<\/li><li>One asset class that hasn\u2019t risen as swiftly as others is gold and other precious metals.<\/li><li>This underperformance has caused most American investors\u2014be they retail or institutional\u2014to give up on precious metals as an essential asset class.<\/li><li>However, John Hathaway, who is considered to be the \u201cWarren Buffett of the precious metals space,\u201d is much more bullish given all of the macro-economic factors at play.<\/li><li>In the short-term, John and top economist David Rosenberg anticipate we could have a recession in 2020.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TAKING THE HARD WAY OUT \u201cYou don\u2019t make mistakes when you don\u2019t have money. When you have too much money, you will make a lot of mistakes.\u201d\u2013 Jack Ma, founder of Alibaba, the Amazon of China \u201cMy view is simple and starts with the observation that gold is a lot like religion. No one can [&hellip;]<\/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":[24488,647,3650],"class_list":["post-50341","post","type-post","status-publish","format-standard","hentry","category-economics","tag-evergreen-gavekal","tag-precious-metals","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50341","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=50341"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50341\/revisions"}],"predecessor-version":[{"id":50343,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/50341\/revisions\/50343"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}