For the first time in more than two centuries, the financial markets are inviting you to bet on anarchy. With bond rates around the world sinking to zero and below, one age-old hedge against financial catastrophe now has what financial market wonks call a "positive carry".
Gold is a precious metal. It has no practical use. It doesn't pay interest or a dividend.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
