Mead sees an enormous market for financial instruments of all kinds, including government paper and corporate paper, to serve as a store of wealth. People are getting richer and need to save for old age and retirement in a way that they didn’t when large swaths of humanity lived agrarian lives, he said.
Despite the factors currently in the dollar’s favor, Mead believes that over the long term, the dollar will continue to decline in value. But he likes the prospects for gold.
“There will always be a desire by a significant number of people to have that one kind of asset they feel would hold its value against the worst of catastrophes,” he said.