gold forcast of below 800, page-130

Skol,

Cash is a good bet if you expect broad asset deflation as a result of de leverageing, and if the governments around the world left markets alone, you would be able to swap those dollars for deeply discounted assets(all under the assumption you can time the market very well). You may still get a chance to buy while fumble around looking for the print button on the printing press.

But... it seems governments are hell bent on inflating their way out of deflation.

Have you ever seen what excessive monetary inflation does to cash?

Cash has its place, but todays game is more about predicting human nature and how it plays out in politics than pure market dynamic plays.

Being in cash has been a good play in recent times, but not the best play.