The Nightmare Scenario for the World

“Gold has no role in portfolio of wealthy clients” said the chief investment officer of Goldman Sachs’ private wealth management in the week that gold in US dollars went up by over $100 and made a new high of $1,984. Many found this statement puzzling as another Goldman department previously has told clients not to sell any gold. The CIO went on to say: “Our view is that gold is only appropriate if you have a very strong view that the US dollar is going to be rebased. We don’t have that view.” THE IMPLODING DOLLAR So here we have … Continue reading The Nightmare Scenario for the World