Kitco News, Released on 5/4/20 (Recorded on 5/1/20)
Governments and central banks are throwing all the money they can into financial markets to support a flaying global economy rocked to its core from the COVID-19 pandemic.
Although the world could see the worst downturn since the Great Depression of the 1930s, Axel Merk, chief investment officer and president of Merk Investments, warned investors: “there will be no free lunch.”
Merk said that he like gold as a hedge against these unprecedented measures and the growing risk that the government could make a misstep in financial markets and do something “stupid.”
Axel Merk is the Founder, President, Portfolio Manager, and CIO at Merk Investments LLC. He is an expert on qualitative research and macroeconomic trends. Mr. Merk is also an expert on macro trends, hard money, international investing, and on building sustainable wealth, and he is a pioneer in the use of strategic currency investing to seek diversification. He is a speaker and author on topics ranging from the economy, gold, and currencies to sustainable wealth and personal finance, as well as a regular guest and contributor to the business media around the world. Mr. Merk is an Author of the book Sustainable Wealth: Achieve Financial Security in a Volatile World of Debt and Consumption.