CNBC/Maggie Fitzgerald/8-13-2019
“‘There is international arbitrage going on in the bond market that is helping drive long-term Treasury yields lower,’ Greenspan said in a phone interview. ‘There is no barrier for U.S. Treasury yields going below zero. Zero has no meaning, beside being a certain level.’”
USAGOLD note: Below zero has a great deal of meaning to savers who saved all their lives for retirement and now find themselves essentially deprived of any income for their efforts. I am sure Alan Greenspan knows and understands the problem since he is probably experiencing it just like everyone else. Just as accumulating gold works for hedge funds in a zero yield environment, so it works for ordinary individuals. With gold you get both the prospect for upside potential and a safe haven against the very forces creating below-zero yields in the first place.
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