Why Global Financial System Needs A Gold Standard – Equinox Partners

from Kitco NEWS

lass=”” >New York-based hedge fund manager and strong gold standard advocate Sean Fieler says it’s time to create competition in the global monetary system because it’s just not working. ‘I will admit…that returning to a gold standard is not going to happen. The financial architecture isn’t going to be compatible with sound money,’ he told Kitco News. ‘What we’re advocating for…is opening up the monetary system to competition…competition for the Fed and end their money monopoly, which has been abused certainly in recent years.’ Fieler is also known for his large political contributions and chimed in on the U.S. presidential race as well as GOP presumptive nominee Donald Trump’s appeal among American voters. ‘The electorate wants a change…and the markets are still anticipating almost no change so you have stocks trading on lofty multiples and bonds trading on negative real yield,’ he said. ‘I think Trump brings more change [while] Clinton is the status quo.’ The Equinox Partners president also commented on gold and gold stocks, which his firm is invested in. He noted that stocks are up over 80% year-to-date and he expects they have further room to go. ‘The stocks are now discounting prices of the metals about where spot is but I think the metals have further to go as well.’

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