“Going Bananas” Tocqueville Investor Letter Q4 2018 on Gold and Goldmining Stocks

15.01.2019

US debt to GDP exceeds 100%, in the danger zone that has historically led most countries into a banana-republic-style sovereign-credit crisis, loss of currency value, and credit collapse. The ratio has hovered near the 100% level since 2013 without adverse consequences. Over the past year, the dollar has been generally strong relative to other currencies. However, we think that the risks are high that significant change is afoot; and if so, exposure to gold will prove timely.

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