A Bloomberg report quotes hedge fund tycoon Crispin Odey as saying that governments may ban private ownership of gold if they lose control of inflation. Governments and central banks across the globe have launched unprecedented fiscal and monetary lifelines to help their respective economies contain the fallout from the coronavirus outbreak. Many economists are of the opinion that the trillions of dollars of liquidity that is being injected into the global economy would lead to a sharp rise in inflation. Gold, a classic hedge against inflation, recently rose to 7.5-year highs near $1,765 and has already rallied by over 10% this year. Key quotes Its no surprise that people are buying gold. The authorities may attempt at some point to de-monetize gold, making it illegal to own as a private individual. They will only do this if they feel the need to create a stable unit of account for world trade. History is filled with examples where rulers have, in moments of crisis, resorted to debasing the coinage. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next RBA’s Lowe: Australian financial system is resilient and is well placed to deal with COVID-19 FX Street 2 years A Bloomberg report quotes hedge fund tycoon Crispin Odey as saying that governments may ban private ownership of gold if they lose control of inflation. Governments and central banks across the globe have launched unprecedented fiscal and monetary lifelines to help their respective economies contain the fallout from the coronavirus outbreak. Many economists are of the opinion that the trillions of dollars of liquidity that is being injected into the global economy would lead to a sharp rise in inflation. Gold, a classic hedge against inflation, recently rose to 7.5-year highs near $1,765 and has already rallied by over 10%… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
