(Kitco News) - Buy hard assets to protect yourself from currency risk, said author and market analyst Marc Friedrich.
In May Friedrich, Founder of Friedrich & Partner, spoke to Kitco at the Deutsche Goldmesse conference in Frankfurt, Germany.
Central banks and governments have been trying to navigate a pandemic, inflation and a war in Europe, which has disrupted trade and economies. Governments were highly accommodative during the pandemic, but debt levels grew.
"I think we're witnessing the end of our fiat monetary system," said Frierich. "We see the balance sheets of the American central bank and the European central bank, and they're just going parabolic."
"To protect your purchasing power, you need assets which are limited through nature or math, like bitcoin or real assets. Real assets are the best method to protect your purchasing power in troubled times."
Regarding which hard assets to buy, Friedrich singled out tin, copper and uranium.
"I'm a big fan of tin, because you need it for everything. Without tin you don't have a mobile phone, you don't have a Tesla, you don't have a MacBook. Copper is the most precious metal, actually. Copper is the most important [metal] to industry. And of course uranium since you need a reliable source of energy."
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Kitco's coverage of Deutsche Goldmesse was sponsored by Defiance Silver.
