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