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The Gold Price Boom Has Legs
If there is one thing about which one can have confidence about Trump’s economic policies’ impact on markets, it is that they will continue to give a big boost to the gold price. They will do so by further undermining confidence in America’s economic exceptionality. That will all too likely precipitate a dollar crisis. The signs that this process is well underway are in plain sight. An important point to bear in mind is that America is the world’s largest debtor nation and is highly dependent on the kindness of strangers to finance its large twin external current account and budget deficit. Indeed, close to ... (full story)