Pet rock indeed: Bank of America says buy gold as central banks lose control

ZeroHedge/Tyler Durden/8-26-2019

“What a difference a few years makes. Back in the summer of 2015, a WSJ op-ed writer,  who somehow was unaware of the past 6,000 years of human history, infamously and embarrassingly said ‘Let’s Be Honest About Gold: It’s a Pet Rock.’ Fast forward to today, when with every central bank once again rushing to debase its currency in what increasingly appears to be the final race to the debasement bottom, when even BOE head Mark Carney recommends that it is time to retire the dollar as the world’s reserve currency, pet rock gold has emerged as the second best performing asset of the year… and at the rate it is going – 4th in 2017, 3rd in 2018, 2nd in 2019 – gold will be the standout asset class of 2020.”

USAGOLD note:  Quite an impressive piece of analysis for the long-term future from Bank of America with comments laid-in from Tyler Durden at ZeroHedge – and with no small amount of staying power. Perfect choice or pet rock? We will let the reader decide. . .

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Image courtesy of Visual Capitalist

Source: USA gold

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