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Merk In the News: BNN
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Portfolio manager Axel Merk tells BNN we cannot afford positive real interest rates in the U.S.

"...When you have maximum employment as your primary target, it means you are going to use monetary policy to address fiscal issues. Obviously we have a mess on the fiscal side... And ...we cannot afford positive real interest rates in the U.S. Government debt couldn't be financed if we had a gangbuster economy with positive real rates. Which means we have to err on the side of inflation, we have to be easy with money, and gold [may be] a beneficiary of that..."

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