A well-known hedge fund manager has warned that governments may ban private gold ownership. He explained that central banks may attempt to demonetize gold, making it illegal for private individuals to own, as the authorities lose control of inflation amid the coronavirus-led economic crisis.
Is Gold Safe? Governments May Make Owning Gold Illegal for Private Individuals
Central banks might outlaw private gold ownership if they lose control of inflation amid the coronavirus crisis, London-based hedge fund manager Crispin Odey warned clients in a letter seen by Bloomberg on Wednesday. He was quoted by the news outlet as saying:
It is no surprise that people are buying gold. But the authorities may attempt at some point to demonetise gold, making it illegal to own as a private individual.
The hedge fund manager added that the governments “will only do this if they feel the…