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Axel Merk discusses the role of gold in investment portfolios. He notes that, historically, gold has contributed value as a diversification tool.
Merk addresses ongoing reluctance among investors regarding the inclusion of a non-income producing asset like gold in portfolios designed for the future.
Merk has also commented on recent policy decisions and tax measures. He reported that ECB President Lagarde expressed regret over the duration of forward guidance. In a separate note, Merk observed that California's wealth tax would impact entrepreneurs with illiquid assets more than those with generational wealth.