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HSBC’s David Bloom: “Gold Is The Only Safe Haven Asset That Will Not Do QE, Put In Capital Controls Or Complain”

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Washington’s Blog
Sept 12, 2011

Switzerland’s Currency Move Could Boost Gold

We asked last month:

Will Easing By The Swiss Central Bank Drive Investors to Gold As The Only Safe Haven?

HSBC’s head of foreign exchange strategy – David Bloom – says yes.

“Gold Is The Only Safe Haven”

Bloom told BBC last week:

The real beneficiary [of Swiss and Japanese easing] – which never complains, never prints itself – is gold.

And he told the Telegraph today:

The market must fear this will lead to a sharp escalation in currency wars. Gold is the only safe haven asset that will not do QE, put in capital controls or complain.

For an in-depth background on gold, see this, this, this, this, this, this, this, this and this.

Note: We are not investment advisers and this should not be considered investment advice. Personally, many of us are long gold.

This article was posted: Monday, September 12, 2011 at 8:08 am





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