Bloomberg picked an odd time to schedule a gold debate
In case you missed it, James Rickards, editor at Strategic Intelligence, and Barry Ritholtz, founder and chief investment officer at Ritholtz Wealth Management, debated the merits of gold on Bloomberg. The two faced off on Thursday, a day before Brexit vote.
Gold had a huge gain the next day after the surprise outcome where voters asked to leave.
Ritholtz took the anti-gold side.
"Look, the simple case is that there is a new case for gold because the old case for gold–collapsing dollar, hyperinflation, the Fed's going to ruin us all–hasn't worked out this decade. Gold was a great performer in the 2000s. Those conditions don't exist today," says Ritholtz.
Rickards argues that inflation is coming. Protect yourself with gold.
"The Fed wants inflation and it won't rest until it gets it. So what are you waiting for, get the gold now before the inflation kicks in," says Rickards.