“It was monetary and fiscal stimulus – inflationism – on a global basis, the likes of which the world had never experienced. And, importantly, the Bubble inflated for an incredible 13 years. History teaches that things can get crazy at the end of cycles, and we witnessed some of the craziest things ever. Readers far into the future will ponder this era, as we do the tulip bulb mania and John Law’s Mississippi Bubble. And, most unfortunately, it’s all coming home to roost now.”
USAGOLD note: Doug Noland’s latest – a lengthy big picture overview under the headline “Nowhere to hide.” He ends with the hope that his analysis proves way too pessimistic. This piece reminded us of Richard Russell’s timeless advice: “In a bear market, he who loses least wins.” In the initial stages of what many are calling a new bear market, gold has held its own while the stock and bond markets have suffered notable declines.