Alasdair Macleod: Preparing for the next move in gold

The global economic outlook is deteriorating. Government borrowing in the deficit countries will therefore escalate. U.S. Treasury data confirms foreigners have already begun to liquidate dollar assets, adding to the U.S. government's future funding difficulties.

The next wave of monetary inflation, required to fund budget deficits and keep banks solvent, will not prevent financial assets suffering a severe bear market, because the scale of monetary dilution will be so large that the purchasing power of the dollar and other currencies will be undermined.

Failing fiat currencies suggest the dollar-based financial order is coming to an end. But with few exceptions, investors own nothing but fiat-currency dependent investments. The only portfolio protection from these potential dangers is to embrace sound money -- gold. ...

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