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Goldman Warns “Real Concerns Are Emerging” About The Dollar As Reserve Currency; Goes “All In” Gold

In his morning critique of goldbugs’ resurgent optimism about the future of gold, which has exploded alongside the price of precious metals, which in turn have been tracking the real 10Y rate tick for tick.

Rabobank’s Michael Every argued from the familiar position of one who views the modern monetary system as immutable, and bounded by the confines of the dollar as a reserve currency and financial assets as a bedrock of modern household wealth, of which as Paul Tudor Jones recently calculated there is over $300 trillion worth, compared to just $10 trillion in total gold value.

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