‘Zero has no meaning’ says Greenspan: I disagree, so does gold.

TownhallFinance/Mish Shedlock

cartoon image of digging hole, dirt piling up“Alan Greenspan is wrong. Zero is very meaningful with negative being even more meaningful. It means central banks have hit a brick wall. They cannot cram any more debt into the system. There is no tolerance for paying interest. That’s the meaning, and the evidence is overwhelming.”

USAGOLD note:   Shedlock holds nothing back in this critique of the central banks and zero per cent interest rates. Just as accumulating gold works for hedge funds in a zero yield environment, so it works for ordinary individuals.  With gold you get both the prospect for upside potential and a safe haven against the very forces creating below-zero yields in the first place.

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