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Bill Gross's Comments About Gold
Posted September 6th, 2012
Many of you have recently read or seen on the news that Bill Gross--Managing Director of the largest bond fund in the world--now considers gold as a superior investment to stocks and bonds. As someone who is regarded as the "Bond King," and who has amassed a fortune while managing over $1.8 trillion in bonds at PIMCO, we find it amazing that Mr. Gross would publicly state that gold is a better investment than bonds. Clearly he is a man who calls them as he sees them. While speaking to Bloomberg, Mr. Gross commented, "Gold is a fixed commodity that has a considerable store of value that paper money has not," and, "When a central bank starts writing checks and printing money in the trillions of dollars, it's best to have something tangible that can't be reproduced, such as gold." This is something that we at Tangible Investments, LLC have been saying for many years!
Since gold is a hedge against both deflation and inflation, what better hedge could one ask for? We are currently in a cycle of deflation (lack of demand), and inflation is inevitable, based upon the fact that the United States and other industrialized nation's continue to print money with wanton disregard.
Here's the video of Bill Gross discussing gold as the ultimate hedge.
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