Gold. With alarming levels of government debt and deficits everywhere, investors are looking for safe havens. The continued rise in gold prices – amid declining market expectations of a Fed rate cut and dollar stability – is highly unusual. One possible explanation is that we are witnessing a crisis of confidence in fiat currencies, as fiscal imbalances in many countries encourage governments to inflate debt.
(And Russia, with its growing budget deficit and public debt, is moving in a global direction)
