Citigroup’s chief economist: ‘Gold, in times of uncertainty & especially in days of uncertainty & negative rates, looks pretty good’

Citigroup’s chief economist Willem Buiter Says Gold wins against fiat currencies in negative rate environment

In the books of most gold lovers, Citigroup’s chief economist Willem Buiter is noted down as the man who thinks gold is a “6,000 year bubble.”

However, in a recent interview with Epoch Times [Skip to 38:00 in the video], he presented a much more nuanced position and said he would even own gold as part of a diversified portfolio of currencies.

“It competes with other fiat currencies, the dollar, the yen, the euro. And if these currencies now yield negative interest rates or are at risk of negative yields in the U.K. and the United States, then the currency that at least has a zero interest rate, looks better.”

Gold, in times of uncertainty and especially in days of uncertainty laced with negative rates, looks pretty good.

— Willem Buiter, Citigroup

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