The great disconnect between Wall Street and Main Street

Financial Times/Mohamed El-Erian

“While investors will continue to surf a highly profitable liquidity wave for now, things are likely to get trickier as we get further into 2021.”

USAGOLD note:  We referenced El-Erian’s latest thinking as summarized in a video interview at Bloomberg a couple of days ago. Here is the accompanying editorial published at Financial Times on Tuesday for those who would like to see the original. Earlier this year, El-Erian recommended gold ownership saying: “It’s a bit like what happened to big tech. People like it because it’s defensive. People like it because it’s a reflation trade. People like it because it’s inflation protection. What we are starting to see with the narrative about gold is starting to be like the narrative about big tech. It gives you everything.”

Repost from 12-76-2020

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