Emerging market currencies are in the tank. The Turkish lira is plummeting, as is the Argentine peso. Stronger emerging markets are even feeling the pain. Many U.S. investors assume a currency debacle couldn’t happen in the U.S. But make no mistake, just because something hasn’t happened, doesn’t mean it can’t. Investors who continue to eschew gold may want to brush up on their monetary history.
Jeremy Jones, CFA
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