Prediction evidence

Michael Howell on why you need crypto and gold as hedges: China is driving this rally, and the West's monetization hasn't even begun "A lot of people attribute the rise in gold to monetization. That's not true. The real monetization in the West hasn't started yet." "Politicians are going to kick the can down the road, as they have for the last 100, 120 years. You're not going to get a financial crisis, you're going to get a progressive devaluation of paper money. That's why you've got to own things like cryptocurrencies and gold." "It ain't financial repression. It's monetary inflation. Financial repression destroys your income. Monetary inflation destroys your wealth. That's far more important for the majority of people." "China is pricing the gold bullion market at the margin. They're the important buyers. The PBoC is doing that, but also Chinese retail." "China is suffering debt deflation. The economy is slow, prices are falling, they're wholly dependent on fiscal spending or export growth. Classic debt deflation is what Japan saw." "How did Japan dig its way out? It devalued the yen. It printed money. China has to do exactly the same thing. It has to devalue the yuan. And that's the scary thought." "What that means is monetization en masse around the world. Politicians everywhere, East and West, are going to kick the can down the road. That's why you need monetary inflation hedges."