by Paul Rosenberg, Casey Research:
In mainstream media coverage last year, gold was largely either ignored or despised. The winner for most derisive commentary might be Citigroup Chief Economist Willem Buiter, who labeled gold “shiny bitcoin” and said “no bank should hold it in reserves.”
Given the pervasiveness of such views, I feel it’s important to provide some equilibrium. To that end, I’d like to share some other views (and highlights) that marked 2014 yet might have gotten lost in the media-induced haze.
Jim Rogers, billionaire and cofounder of the Soros Quantum Fund, publicly said he thinks there is going to be financial chaos over the next decade: “It could be a monetary disaster or even war. This turmoil could come from a gigantic debt problem, for instance, which could cause world economies to fall apart as well. Politicians don’t know what to do besides printing money—so that’s what they end up doing. We will see a wave of turmoil from all this that will surely take gold higher.” He confirmed he hadn’t been selling any of his gold.
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