July 15, 2011
As I noted yesterday, Alan Greenspan says that gold is the ultimate safe haven:
Gold still holds reign over the financial system as the ultimate source of payment.
As Ambrose Evans-Pritchard points out today:
Mr Bernanke himself was grilled by Congress this week on the role of gold. Why do people by gold? “As protection against of what we call tail risks: really, really bad outcomes,” he replied.
This article was posted: Friday, July 15, 2011 at 3:45 am