If things get really bad, forget gold.
In our interview with Jeffrey Gundlach, the legendary bond manager said it’s good old paper cash that you want to have on hand. And not cash in the bank. More like cash under your bed, that you can pick up and carry (which you can’t do with gold… do you really think that you’re going to shave of flints from your goldbrick to pay for food at the store?).
And if you really can’t stomach cash, even precious stones are better, since it’s much easier to carry a few million in gems around then a few million in gold, which is way too heavy.
The discussion came after a broader talk about derivatives, which he sees as still posing potentially huge systemic risk to markets.
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