Two great contradictory thoughts on gold from Satyajit Das’s article in ET
“Gold is money. Everything else is credit.”-JPMorgan’s words to Congress in 1912
“A 15th-century gold bug who’d stored all his wealth in bullion, bequeathed it to his children and required them to do the same would be more than a little miffed when gazing down from his celestial place of rest to see the real wealth of his lineage decline by nearly 90% over the next 500 years.”-Dylan Grice of Societe Generale
Some stuff I am reading today morning:
CBI raids IRB’s chief’s aide in murder probe (IndianExpress)
Saudi Arabia uses India to balance Pakistan (WSJ)
Hero Moto Corp shifts to reverse gear (Mint)
Rain Commodities’ rise from a troubled legacy (BS)
Heritage Food is flying high (Gaurav)
Return of the golden age (ET)
Apple unwraps mini iPad (Reuters)
Where did all the finance bloggers go? (TRB)
The geopolitics of computer trading (FTAlphaville)
What do we know when insiders don’t trade (Climateer)