Key Players Buying More Gold Now
The Paulson & Co. founder “told investors it’s time to buy the metal as protection against inflation caused by government spending,” Bloomberg reported today.
Bloomberg reported that 12 of 22 companies surveyed had a buy on gold, with five surveyed neutral.
Paulson & Co., the largest owner of the SPDR Gold Trust Exchange Traded Fund, which trades in gold futures, cut its position in 2011, Bloomberg reported earlier, probably to cover losses in securities.
A Feb. 14 SEC filing showed Paulson & Co. with $2.9 billion worth of SPDR shares, according to Bloomberg’s latest report.
Meanwhile, central banks—even as they act to inflate the currency supply, thus fueling the run toward gold—also are stocking up, Bloomberg reported.
Most analysts predict the appetite for gold will continue at least until concerns about the euro and European debt are allayed. But even if Europe were somehow able to get its debt ducks in a row, the really Big Kahuna of currency inflators—the U.S. central bank, the Federal Reserve—shows no signs of slowing down the printing presses. In the WealthCycles.com article, we cited investor Jim Rogers and others who believes the U.S. is in far worse shape than Europe, and that the unsustainable debt loads are setting the world up for a financial crisis far worse than that of 2008.
All of which is bullish for gold. As cited by Bloomberg, Jeffrey Sica of SICA Wealth Management opined: “The fear trade is pulling people back to gold. We will see gold prices rise to a record this year.”
- The Last, Great Run For The U.S. Dollar, The Death Of The Euro And 74 Trillion In Currency Derivatives At Risk
- Are you ‘over-connected’?
- Earth-directed solar X-flare March 11
- Rate Of Climate Change To Soar By 2020s, With Arctic Warming 1°F Per Decade
- American Millennials Are Some Of The World’s Least Skilled People, Study Finds
- Russia and North Korea forge ‘year of friendship’ pariah alliance
- March 2015
- February 2015
- December 2014
- November 2014
- September 2014
- December 2013
- November 2013
- October 2013
- August 2013
- March 2013
- February 2013
- January 2013
- December 2012
- September 2012
- August 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
Top Posts & Pages
- THE TRUTH BEHIND FRATERNITIES AND SORORITIES
- Nuclear Targets in America
- 68 New Earths and 288 New Super Earths: The New Kepler exoplanet data - NASA videos and pictures
- This Is Not A Mosquito It’s An Insect Spy Drone For Urban Areas Already In Production Funded By The Gov (VIDEO)
- Nibiru planet X 2012 PROOF of Government conspiracy
- Facebook Now Has 104,857,600 GB Of Your Personal Data Stored On Its Servers
- Dr. Michio Kaku on Japan's Nuclear Crisis: 'We're Very Close to the Point of No Return'
- Records fall as big spring storm hits Madison
- The Future of Food Riots
- Africa drought leaves 10 million facing famine and disease
- 1,263,907 hits