Why One Bank Thinks The World Is "On The Cusp Of A New Era Characterized By Disorder" | WHAT REALLY HAPPENED

Why One Bank Thinks The World Is "On The Cusp Of A New Era Characterized By Disorder"

Back in July, one of the most respected credit strategists on Wall Street caused stunned gasps across the financial world, when he admitted that he is "a gold bug." Deutsche Bank's Jim Reid may have been forever cast out of the ranks of polite, non tinfoil hat/conspiracy theory society when he said that in his opinion, "fiat money will be a passing fad in the long-term history of money", a shocking admission (if one that many of his peers secretly harbor) for most financial professionals who are expected to tow the Keynesian line and always believe in the primacy of fiat and its reserve currency, the US Dollar.

Of course, for those who have been following Reid's writings over the past few years (we feature his Daily Morning Reid note in our AM wrap), that admission was hardly a surprise: for much of the past decade, he has been closest to saying what most rational, clear-thinking people on Wall Street - and elsewhere - think and believe, yet are afraid of speaking it for fears of direct and indirect retaliation from an established monetary and financial system which has zero tolerance for anyone casting doubts over its viability (the fact that he works at Deutsche Bank is an added bonus).

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