Prudent investing is impossible these days
“I find quite strong parallels between what John Law attempted exactly 300 years ago in Paris by severing the connection between money and gold by printing a lot of money through the central bank and using that money to purchase shares in the Mississippi Company.”
USAGOLD note: We referenced this interview in yesterday’s DMR and revisit it today for those who may have missed that report. Chancellor is a highly respected investment strategist formerly with GMO and the author of Devil Take the Hindmost, a warning on financial speculation published just before the stock market crash in 1999. He mentions gold in this interview then reveals he has made a heavy commitment to “real assets” – 80% of his wealth.
Repost from 9-14-2020