Of inflationists and swamp creatures. . . . .
“This crowd couldn’t sell gold bars to inflationists.” – Today’s lead Wall Street Journal editorial with reference to the Trump administration’s handling of Comey’s termination
MK note: Though the Wall Street Journal confuses use of the term “inflationist,” the point is well-taken. It is not the perpetrator of inflation (the inflationist) who seeks the safety of gold in most cases. It is the victims, i.e. ordinary citizens. I say “in most cases” because there is one notable instance of an inflationist taking refuge in the metal. He was one of the most infamous perpetrators of them all, John Law, who in 1720 was ultimately caught in escape mode at the French border with a wagon load of gold and silver booty he had accumulated against the currency hyperinflation he had created.
History aside, as a firm that has placed millions in gold coins and bars over the years with investors hedging an assortment of potential disasters, we can say with confidence that USAGOLD can and does sell gold to “inflationists” under the WSJ definition. . . . . and plenty of it. If anything, the level of confusion, angst and partisan politics on the loose in Washington DC these days only adds another good reason for the rest of us to own gold. The swamp, in short, requires hedging. I am not surprised to see gold moving back to the upside under the current circumstances. As noted yesterday, the euphoria bubble is in the process of being deflated by events.