Most economic downturns punish one asset class at a time. Stagflation punishes nearly all of them at once. Stocks struggle when growth stalls. Bonds erode when inflation runs hot. Cash loses purchasing power quietly, year after year. The usual hedges either don’t work or make things worse. Gold and silver are different. Their track record across stagflationary periods spans more than 50 years — and the data is unusually clear. This article breaks down what stagflation actually is, what happened to precious metals during the 1970s, and why the current macro environment deserves close attention. Stagflation is the ... (full story)