Jun 17, 2011

David Einhorn says "gold is money"

To me gold represents money. There are different types of money – some people think gold is a commodity and they like to think about jewelry demand and how much is coming out of the ground and so forth – I think of gold as money. You can have dollars, or you can have Yen or Euros or Pounds, or you can have gold. I think the merit of gold is that given our current monetary and fiscal policy [in the US] as well as the problems in the other major currencies, gold is the money of choice that we would like to have a meaningful amount of our assets denominated in.

~David Einhorn, founder, Greenlight Capital, interview, May 2011

No comments: