Why Gold Is Heading Higher & Governments Can’t Stop It
September 19, 2012
Today legendary value investor Jean-Marie Eveillard, who oversees $60 billion, told King World News, “As long as the monetary policies continue to be mindless, the upside (for gold) continues.” He also said, “If governments try to make ownership of gold difficult or impossible, it will be much more difficult to do so than it was in the time of Roosevelt in the 1930s.”
Here is what Eveillard had to say: “Well, it seems that almost everybody is ‘all in.’ Mario Draghi is all in, Bernanke is all in, in the sense that both of them have announced ‘unlimited’ purchases of various assets. The Japanese, who believe they yen is too strong, they may be tempted to adopt a very easy monetary policy.”
Jean-Marie Eveillard continues:
“Not to mention the fact that in so-called emerging countries, because they are very reluctant to see their currency go up, they also have very easy monetary policies. Every now and then there is a crisis in Europe, and so the authorities try to buy some time. That’s, in essence, what they have been successful at so far.
They buy some time and then two or three months later there is a new crisis….