Steve Mandel Rejoins The Gold Party; World Gold Council Chimes In
by Tyler Durden
ZeroHedge.com
02/16/2012
Following the barrage of 13Fs released two days ago, another hedge fund that has eventually found its way to the one undilutable currency is Steve Mandel’s Lone Pine. His thoughts on the matter need no commentary: ‘We re-established a position in gold during the quarter. Although we certainly have misgivings about an asset that does not produce cash, it seems very likely that developed market governments will try to inflate away their outsized debt burdens, debasing their currencies in the process. Gold is the “currency” that will likely hold its value as these developed world paper currencies engage in a race to the bottom.” Of course, if only one had seen that there is absolutely nothing different or new about the gold “story” at all since March 2009, there would have been no need to “re-establish” positions. Otherwise, more or less as has been said here all along. Furthermore, below are some pretty charts from the latest World Gold Council demand trends letter, presented below.
Summary from WGC:
The Rest…HERE
