Biden will face new depression

Daily Reckoning/James Ricards

photo of Biden speaking at podium“We cannot print our way out of a liquidity trap. We cannot spend our way out of a debt trap. Neither fiscal nor monetary policy will produce stimulus given current conditions of low velocity, high savings rates, high debt, high unemployment and new lockdowns. The Fed and the Congress may try to stimulate the economy, but they will fail.”

USAGOLD note: With that dire forecast in mind, Ricards says “the path for investors is clear,” and it includes a minimum 10% allocation to monetary metals and the companies that mine them.

Repost from 1-11-2021

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