$XAU Today's gold pullback is reminiscent of the 2008 correction.
- 2008: ~34%
- Today: ~31%
Back then, the correction wasn't the end of the bull market...
Gold went on to surge another 170%.
But today's macro backdrop is much more favorable.
For the first time ever, global central banks are net buyers of gold, whereas during previous cycles they were net sellers.
At the same time, we're experiencing elevated inflation while governments are drowning in debt.
This isn't 1980, when interest rates could be raised aggressively to crush inflation.
Instead, it's time to let inflation run hot and inflate away the debt, bringing debt to GDP ratios back to more manageable levels.
We don't own enough gold for what's coming $XAUT $XAUG.ETF
#XAU #GOLD
- 2008: ~34%
- Today: ~31%
Back then, the correction wasn't the end of the bull market...
Gold went on to surge another 170%.
But today's macro backdrop is much more favorable.
For the first time ever, global central banks are net buyers of gold, whereas during previous cycles they were net sellers.
At the same time, we're experiencing elevated inflation while governments are drowning in debt.
This isn't 1980, when interest rates could be raised aggressively to crush inflation.
Instead, it's time to let inflation run hot and inflate away the debt, bringing debt to GDP ratios back to more manageable levels.
We don't own enough gold for what's coming $XAUT $XAUG.ETF
#XAU #GOLD
