In this interview, Ray Dalio talks about gold and why Warren Buffett may be making a mistake
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Category: Gold
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
“Gold is still going to $2,000 an ounce this year,” said Michael Widmer, an analyst at Bank of America Merrill Lynch in London, who predicts a fourth-quarter average of $1,875. “It’s just going to take a little bit longer to get there.”
(Hattip TRB)
