MarketsInsider/Harry Robertson/8-4-2022
“Germany would likely tumble into a deep recession of the kind not seen since the financial crisis in 2009 if Russia decides to fully cut off natural gas supplies, one of the country’s biggest banks has warned.”
USAGOLD note: Such an event, i.e., a deep recession, in Germany, the perennial engine for growth in Europe, would have global implications though it is difficult to know what form they would take at this juncture. The demand for gold has been running at very high levels over the past few years in Germany and it is unlikely to dissipate anytime soon simply because the citizenry does not know what to expect.
