Gold is Still One of the Best Investment Assets

Many countries' economies have found themselves in a completely unfamiliar situation, because of the rapid growth of monetary and fiscal stimuli, which have put the global financial system on the brink of disaster. At least this is what John Dean, former managing partner at JP Morgan, told Kitco News.

The events unfolding at the moment are the result of the massive political reaction to the Corona crisis. According to Dean, we are in uncharted waters, living through a scenario that has never happened before. Apart from the virtually zero interest rates, there is mounting debt on all levels, both corporate and private. Inflation is reeling out of control, exacerbating the debt problem.

The main challenge, Dean believes, is how to contain inflation. If the Fed increases interest rates under the current conditions, it will have a serious effect on the economy. The Fed has to walk along the edge of an abyss, making sure that a rate hike doesn't lead to a sudden reversal and derail the fragile stability it managed to create.

John Dean also said that he expects real-world assets like gold, commodities and real estate to be top performers. This is because we are in a new territory and the outcome is unknown. The most important factor, for Dean, is the risk-reward ratio, the reward lying in the fact that investments in real, 'hard' assets — especially gold — will yield the best results during a crisis. Whatever the outcome, real estate, gold, Bitcoin, other precious metals and commodities will be the winners both throughout the crisis and once it's over, Dean believes.

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