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The pandemic has actually boosted deflationary threats in the worldwide economic situation, but according to one financial expert, it's the long-term rising cost of living risks that financiers have to pay attention to as governments and reserve banks worldwide pump liquidity to sustain the ravaged global economic situation.
In an interview with Kitco News, Thorsten Polleit, primary economic expert at Degussa, Europe's biggest precious metals trading firm, claimed that inflation is more than just costs consumers see on their grocery store invoices. He said that possession rate rising cost of living is exceptionally unsafe as it reduces a country's money and also minimizes customer buying power.
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Rising inflation is dangerous and picks winners and losers; win with gold – Degussa
The pandemic has increased deflationary risks in the global economy, but according to one economist, it's the long-term inflation threats that investors have to pay attention to as governments and central banks around the world pump liquidity to support the devastated global economy.
In an interview with Kitco News, Thorsten Polleit, chief economist at Degussa, Europe's largest precious metals trading firm, said that inflation is more than just prices consumers see on their grocery receipts. He said that asset price inflation is extremely dangerous as it debases a nation's currency and reduces consumer purchasing power.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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