Hedge fund bear Crispin Odey says personal gold ownership could become illegal if inflation spikes

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Central banks might outlaw private gold ownership and use the metal to stabilize currencies, hedge fund manager Crispin Odey said in a letter seen by Bloomberg. The notoriously bearish investor added to his gold positions throughout April, warning clients that a de-monetizing of gold could happen if governments “feel the need to create a stable unit of account for world trade.” Such action isn’t without precedent. The US forced private gold holders to sell their stakes in 1933 to normalize the dollar’s value. “History is filled with examples where rulers have, in moments of crisis, resorted to debasing

Read more    Source: businessinsider.com

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