Moral Hazards Amok

Decoupling Of Physical Gold And Paper Gold Prices

Two points:

1) I remember going through all this before in the 80s. Fiat paper was dead, only hard metals had real value and would be our future currency, yadda, yadda, yadda…

Back then it was all just hysteria from retail investors. Nothing is different this time.

2) As the great credit supercycle winds down and society is forced to de-lever , almost everything is going to contract in value; real estate, consumer goods, etc. Why would gold and silver be any different, especially now that central bankers have taken a stand and have started raising rates?