There is only one store of value and medium of exchange that has stood the test of time as ‘real money,’ and that is gold
Chantilly, VA (PRWEB) May 11, 2013
Even with the recent drop in gold prices, many hedge funds and analysts believe gold is still a good investment and the best store of value.
Paul Singer, founder and president of the Elliot Management Corp., which manages over $22 billion in assets, is still one of the believers in the yellow metal.
“We remain unconvinced that genuine normalization of global economic and financial conditions has been achieved,” said Singer in a recent interview with Bloomberg. (2) “There is only one store of value and medium of exchange that has stood the test of time as ‘real money,’ and that is gold.”
Investors should still consider the fact that many governments around the world still have major debt issues and continue to endlessly print money.
The Federal Reserve recently announced their intentions of continuing to purchase $85 billion in treasury bonds per month until they see a better economic outlook, according to their release on May 1 in a USA Today article. (1)
Other hedge fund managers such as John Paulson and George Soros are sticking with gold due to the fact that quantitative easing is happening in several countries around the world.
Hedge fund manager John Paulson continues to purchase and hold gold in spite of losing $2 billion in a two day drop.