The costs of fighting this crisis will be with us for years

Financial Times/Michael Mackenzie/4-25-2020

“The legacy costs of fighting the virus, coupled with the biggest global economic contraction since the 1930s, will shape financial markets for much of the 2020s. Investors are on guard against so-called debt monetisation, where central banks enable unsustainable fiscal spending. In such an environment, expect gold to benefit and currencies to suffer.”

USAGOLD note:  Mackenzie offers one of the better short discussions we have seen on what might be expected for the future in the pandemic’s aftermath.  He sees gold, as indicated above, as one of the longer-term beneficiaries.