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.


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

  1. Well said. See how i’m turning the worst economic crisis in history in the biggest investment opportunity

    – C.Banks
    (click on profile name for more info on my latest video)

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