Faced with the blocking of its reserves at the Fed and the ECB, the Central Bank of Russia has decided that all countries hostile to Russia should not only pay for their imports in rubles, but also that it would buy all gold presented to it at a fixed price of 5,000 rubles per gram.

An inflationary policy is always disastrous in the end. And the question that immediately arises is: what are the reasons why a central bank would resort to it, when everyone knows that the end of an inflationary period is always extraordinarily difficult?

I recommend to increase the proportion of gold in your portfolios and buy some, if you didn’t already have any, but that you should also reduce the size of the stocks component, because the situation is getting bad. Why? First of all, because inflation is accelerating in the United States, something...

We are rapidly heading for the end of the fiduciary currencies, and it’s not that they are a bad idea in theory, it’s quite simply because our political regimes have shown themselves to be incapable of managing them.

Gold will always be worth something, whereas no one knows what a French treasury bond will be worth in 10- or 20-years’ time. Perhaps as much as a bond from Argentina, Greece or Venezuela? The slogan is therefore simple: French rentiers unite, sell your bonds and buy gold.