Today the man who helps oversee nearly $200 billion, Rob Arnott, warned investors need to protect themselves from the coming wealth destruction that will take the form of dramatically increased inflation.
October 7 (King World News) – Rob Arnott, Chairman of Research Affiliates: “I’m having lunch today with Charles Gave, who is my favorite French economist. He’s a little over 80, and he’s still absolutely brilliant. He wrote a paper a week ago called ‘The Turkish Portfolio.’ Turkey has monetized debt again and again and again. You could say the same thing about Argentina. Countries that are addicted to debt finance spending sprees, and then hyperinflation to collapse the value of the debt. Venezuela is much the same.
He describes the Turkish portfolio as a portfolio for people who don’t trust their currency. And the Turkish portfolio is 50% stocks and 50% gold. If you have a collapsing currency, if the bondholders are being wiped out, people will put money into real assets like real estate and stocks, because there is something behind that. Gold is a tangible asset that has been a store of value for 4,000 years.
So he [Gave] points out that the Turkish portfolio might be the answer for US and French investors. That’s the provocative point he makes. So he and I are going to talk about the Turkish portfolio at lunch today. I think there’s a broader answer than the Turkish portfolio, and that’s the…to listen to Rob Arnott discuss what investors can do to protect themselves and even prosper during the coming wealth destruction CLICK HERE OR ON THE IMAGE BELOW.
Gold & Silver!
To listen to Alasdair Macleod discuss the massive gold deliveries from Comex as well as the price of silver surging toward an all-time high CLICK HERE OR ON THE IMAGE BELOW.
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