Billionaire Singer Says Gold Is “Under Owned” and “Only Real Money”

Thursday, October 15, 2015
By Paul Martin

GoldCore
GoldSeek.com
Thursday, 15 October 2015

“In a world where the value of paper money is affirmatively aimed at being degraded by central bank policy, it’s kind of surprising to me that gold can’t catch a bid,”
the billionaire and member of Bloomberg Markets 50 Most Influential said at the SOHN Investment Conference in Tel Aviv yesterday.

As reported by Bloomberg, Singer took aim at monetary policy makers for a staggered economic recovery from the 2008 financial crisis, and what he called the “cult of central banking” in which investors turn to regulators such as Janet Yellen and Mario Draghi to solve the ills of the global financial system.

And while those policies have “levitated” bond and equities, gold remains depressed and Singer is surprised by how little the investors he meets with own gold.

“I like gold. I believe it’s under-owned. It should be a part of every investment portfolio, maybe five to ten percent.”

Singer previously noted at this year’s Ira Sohn conference that it “feels like something institutional investors need to own,” adding that “the supply of gold cannot be radically expanded in a short period of time.”

Singer warned in August of 2014 of the “global monetary delusion” that would lead to higher gold prices – provided gold owners are patient.

“Although the levitation of financial assets has yet to levitate gold, we will grit our collective teeth on that score and await either ‘asset price justice’ or the ‘end times,’ whichever comes first.”

The Rest…HERE

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