David Einhorn on Gold
Speaking at the Value Investing Congress recently, David Einhorn of Greenlight Capital, revealed the reasons he felt gold was a solid investment into the future.
Looking at it from a slightly different point of view, Einhorn said in his opinion, gold does the best based on the fiscal policies being enacted. When the Federal Reserve and other central banks ramp up their printing presses, gold does well, when they deal with it like Paul Volcker did in the 1970s, gold does poorly. And obviously, we're not in a Volcker-like environment at this time.
Unless the government starts wising up and takes the right course of action, Einhorn said gold will do good for some time to come.
With the sovereign debt of a number of nations in serious trouble, and in danger of default, Einhorn looks at that and any currency crisis as markers that gold will do well in those circumstances too.
Taking into consideration the horrid economic policies of the Obama administration, gold has a bright and long future ahead of it for those investing in gold.
David Einhorn on Gold
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