Odey Says Governments May Make Private Gold Ownership Illegal (Bloomberg) Crispin Odey, one of Europe’s highest-profile hedge fund managers, said that governments may ban private gold ownership if they lose control of inflation in the wake of the coronavirus crisis. “It is no surprise that people are buying gold. But the authorities may attempt at some point to de-monetise gold, making it illegal to own as a private individual,” Odey wrote in a letter to investors seen by Bloomberg. “They will only do this if they feel the need to create a stable unit of account for world trade.”
Can't have the disgusting unwashed masses possessing value stores that work outside of the company store right - right?
Lol this is closer to a conspiracy in order to inflate gold prices rather than a sensible projection. I can already see the "stonks" meme at the bottom of the article.
This is not the 1930s under Franklin Delano Roosevelt. People distrust governments. They will not hand over their guns or their gold because governments order them to.
Says the Hedge Fund Manager with dozens of offshore accounts and partnerships. Of course, he's long Gold up the wazoo before Bloomberg News "obtained" the letter.
Exactly my thoughts as well. Someone talking their books. It's otherwise a completely senseless idea just like the idea of asking people of certain nations to surrender their guns.