At the end of 2021, I made what I consider one of my most prudent—and controversial—financial commentary: I recommended selling all major sovereign bonds worldwide and owning gold instead, based on my belief that those bonds would lose money for several years.
That decision was a key reason I went on to have the best five-year investing period of my 42-year career.
Since then, the global debt crisis has grown substantially, even as the “Don’t Worry, Be Happy” crowd on Wall Street—and the mainstream financial media closely aligned with them—have paid it little to no attention.
I continue to personally desire to own just one-year T-Bills, and that they are the only debt instrument I want to hold for as far out as I can see.
