Jeff Gundlach Will Now Incur the Wrath of the Metals Community

From Market Folly’s Ira Sohn Conference summary:

“Interestingly enough, Gundlach said that gold is too heavy to carry around to use as a form of currency to pay for things. Instead, he said to use gems to protect against a crash and uncertainty because they are more portable, noting that you can carry a ruby in your shoe. Gundlach prefers holding cash or gems instead of gold or silver.”

Forget burying silver in your backyard – start hiding rubies in your shoes.

(/sarcasm)

I also watched this video interview with Gundlach where, around the 18 minute mark, he gets into explaining the comment about holding cash – his point is clearly about having currency to protect you from a systemic meltdown, not a hyper-inflationary explosion.  I strongly recommend watching from the 17 minute mark of this video to the end:

-KD

 

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