Why It's Time to Go "Maximum Overweight" in Gold
August 24, 2016 at 05:00 AM EDT
Most American consumers do their banking with one or more of the 10 biggest U.S. banks, like Bank of America or Wells Fargo, with more than $10 trillion in assets. In any case, it's safe to say few, if any, Americans bank with Raiffeisenbank Gmund am Tegernsee, a small co-operative bank outside Munich, Germany. But now it's vital Americans know what's happening in the tiny bank with the big name. The European Central Bank's negative rate on deposits has forced the small co-op to implement negative interest rates (what it creatively calls a "custodian charge") of its own... on private clients. Yes, while the majors like JPMorgan Chase, HSBC, and ABN Amro have been moving toward negative deposit rates for their business clients for some time, this is a shocking and, unfortunately, early example of private citizens having to pony up for central bank madness. It's not hard to fathom that soon enough, this will affect more and more people in more countries at different income levels. As I've said, the consequences of negative-interest-rate policies - financial repression - are soon to be widely felt. That's why some of the world's ultimate "in the know" investors are making a beeline for gold right now. And when you see what's coming down on our heads, you'll see why it's a good idea to follow them before prices get much higher... Tags: Gold To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2016 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Why It's Time to Go "Maximum Overweight" in Gold appeared first on Money Morning - We Make Investing Profitable .