According to the head of the Investment Fund Odey Asset Management, Crispin Odey — in the near future, Central Banks may ban individuals from owning gold.
The reason for this turn of events will be the coronavirus pandemic, and the policy that the Central Bank of many countries has chosen to mitigate the consequences of the global economic crisis. The fact is that QE is a dangerous practice that, due to its specificity, threatens to result in high rates of inflation growth. This will negatively affect both long-term bonds and the stock market as a whole.
According to Crispin Odey, governments in times of crisis often resort to excessive printing of unsecured money. In turn, this refers to the events of the great depression, when in the early 30s, the FED already prohibited private ownership of gold.
However, this turn of events is not a dead end for the part of people who think about protecting their savings by buying gold. After all, the XXI century is the era of financial progress. The era that gave us cryptocurrencies!
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