Pippa Malmgren’s “Insider” Guidance: Buy Gold Now
by Jason Farrell
Jun 5, 2013.
Robert Wenzel over at Economic Policy Journal had an interesting post yesterday about comments made by Dr. Philippa “Pippa” Malmgren about the recent fizzling of spot gold.
Malmgren has an uncommonly strong political resume for someone who seems to hold rather contrarian opinions on metals, having been special assistant to the president for economic policy on the National Economic Council during the Bush administration and a member of the President’s Working Group on Financial Markets and the President’s Working Group on Corporate Governance. She was also Bush’s liaison to the SEC and other federal regulators.
Today, Malmgren, who has returned to the private sector and counts an enormous list of the world’s biggest banks, hedge funds and government entities among her clientele, believes now is the time to grab gold:
“Gold bulls have a rare chance to double up now. Gold bears will have a hard time doubling down from a record profit. Meanwhile, apparently the Indians and everybody else in the emerging markets recognizes a good deal when they see it. As inflation pain continues to make headlines from high tomato prices in Brazil to the same for onions in India, no emerging market investors have any illusions. Inflation for them is here for the duration. A gold-backed yuan is increasingly sounding like a sensible idea.”