The

Race to Debase

Gold Surges To £1,175/oz, Near Record £1,179/oz In GBP, 

As Sterling Falls Sharply

Gold has gained in all currencies today but especially in the embattled British pound. It is not just the ‘no deal’ Brexit that is leading to sharp falls in the pound. Trade wars, falling interest rates in the UK and globally, the slowing London and UK property market and the slowing UK and global economy are all contributing to the fall in sterling. 

True UK government debt exceeds £5 trillion as pension liabilities are not counted in the official numbers. 

Total UK debt (government, private, business & bank debt) as a percent of GDP is over 500% which in itself creates the risk of a currency crisis.

DYI:  At 500% of England’s GDP is debt it is bake into the cake a currency crises will occur.  The only question is when and you can bet it will be sooner than later.  For those with a bit of speculative blood you may want to short the British Pound.

DYI