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Billionaire Singer Says Gold Is "Under Owned" and "Only Real Money"
Billionaire Singer Says Gold Is "Under Owned" and "Only Real Money"
“In a world where the value of paper money is affirmatively aimed at being degraded by central bank policy, it’s kind of surprising to me that gold can’t catch a bid,” the billionaire and member of Bloomberg Markets 50 Most Influential said at the SOHN Investment Conference in Tel Aviv yesterday.

Paul Singer, billionaire and chief executive officer of Elliott Management Corp.
(Photographer: Chris Ratcliffe/Bloomberg)
As reported by Bloomberg, Singer took aim at monetary policy makers for a staggered economic recovery from the 2008 financial crisis, and what he called the “cult of central banking” in which investors turn to regulators such as Janet Yellen and Mario Draghi to solve the ills of the global financial system.
And while those policies have “levitated” bond and equities, gold remains depressed and Singer is surprised by how little the investors he meets with own gold.
“I like gold. I believe it’s under-owned. It should be a part of every investment portfolio, maybe five to ten percent.”
Singer previously noted at this year’s Ira Sohn conference that it “feels like something institutional investors need to own,” adding that “the supply of gold cannot be radically expanded in a short period of time.”
Singer warned in August of 2014 of the “global monetary delusion” that would lead to higher gold prices – provided gold owners are patient.
“Although the levitation of financial assets has yet to levitate gold, we will grit our collective teeth on that score and await either ‘asset price justice’ or the ‘end times,’ whichever comes first.”
The “smart money” and by that we mean the more informed, aware and prudent investors and institutions internationally continue to have an allocation to gold and or add to existing allocations. The less informed continue to not understand or disparage gold and focus almost solely on gold’s short term price action rather than gold’s long term attributes as a hedging instrument and a safe haven asset.
DAILY PRICES
Today’s Gold Prices: USD 1183.35, EUR 1034.08 and GBP 764.16 per ounce.
Yesterday’s Gold Prices: USD 1173.70, EUR 1028.52 and GBP 764.78 per ounce.
(LBMA AM)

IMPORTANT NEWS
Gold Comes Back to Life as Prices Exceed 200-Day Moving Average – Bloomberg
Gold near 3-1/2-month high on bets Fed to delay rate hike – Reuters
Gold Analysts Split on Fed View as Rate Doubts Spur Volatility – Bloomberg
Dollar weakness drives gold prices, base metals hold up in high ground – The Bullion Desk
American Eagle Silver Bullion Allocation Steady at 1 Million Ounces This Week – Coinupdate.com
IMPORTANT ANALYSIS
Billionaire Singer Lauds Gold as Central Banks Aid Recovery – Bloomberg
Trader who called the gold breakdown now sees this – CNBC
Gold Soars Into Green Year-To-Date, Breaks Above Key Technical Level – ZeroHedge
Hooray! Huge Rent Hikes Coming; How Will It Affect Price Inflation? – Mish’s Global Economic Trend Analysis
Vladimir Putin condemns US for refusing to share Syria terror targets – The Telegraph
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I tell ya' whut; monopoly money be wo'd mo'e dan gold. Gold kin't buy ya' groceries o' video games. At least monopoly money kin buy ya' bo'dwalk.
Only read the title.
How can gold be "underowned"? Isn't pretty much all of it (that's been dug up anyways) "owned"? (I'll gladly take any that isn't!) In fact, isn't a lot of gold "owned" about 200 times over through all of the paper? Gold is clearly OVER-owned.
Now, the fraction of the population that has even an ounce of physical - that's another story.
Paul Mcartney says buy gold!
why didn't he open his mouth at $1100/oz?, why all of a sudden? suspicious.
Fofoa has the only gold story I trust. The outline provided by Another and FOA, while not fully flushed out, do give an accounting of the gold world that make sense. Every other story requires a belief in a deep conspiracy and an evil heart at the center of it all.
Fofoa may be wrong but, for now, his version makes the most sense to me.
@ Vegas
FOFOA's theories are very compelling. However, I do not feel his theories would compell one to think the POG is an honest market assesment and not deeply manipulated.
I'm curious, do you subscribe to his paid site? If so, is it worth the price of admission?
FOFOA is a statist. His position on Silver is ludicrous.
"Every other story requires a belief in a deep conspiracy and an evil heart at the center of it all."
Yes. Get a clue.
When billionaires are saying the kind of things that this guy is, you should understand why. If gold is ever monetized again {and God help us if it ever is}, all that would happen would be that the ultra rich would buy it up, and control the money supply all over again, except this time it would be total control. All of you gold bugs better wise up and get a friggn' clue. The video is a great 10 minutes of information, but if you just have to, fast forward to the 8:36 point.
https://www.youtube.com/watch?v=WVlqwJ00LMU
If you want a view of the role of gold in the coming monetary system, look at the newest large currency...the Euro.
Gold is held as a reserve and is marked to market.
If you grasp the significance of that you will have a much better view of the future of gold in the monetary system.
Held where and by whom? Ask Germany.
"Gold and gold receivables".
He's not wrong. The elite have stored mountains of gold with the illegal manipulation of prices. How can anyone here at ZH say that a gold based currency will be an end to the misery? We need a basket of commodities, currencies and a free market.
You are right, gold is knocking on $1200. Can't catch a bid? $1900 was a spike but we will eventually get back there.
The guy is correct on gold but jeez, his mother must have been a naked mole rat.
If everyone hates gold, how come I gotta pay 1200 for it? I've been waiting for 300 so I could back the truck up and get an ounce or two.
I thought it was an article about Dr. Dre?
The Zionist try to stay out of the limelight, mostly, unless it favors their position to step out of the dark, however briefly.
Like cockroaches, they run from the light.
as they scream to everyone that you are a Jew-hater.
I've never heard of him, his band, or any of his songs. How can he be a billionaire singer?
i thought they were talking about springsteen...
My first thought was Buble.
He's not even on this list. I call bullshit.
http://www.therichest.com/top-lists/top-100-richest-musicians/
Of course you haven't heard of him – he sang using the stage name Vanilla Ice, prior to re-focussing his attention on the markets.
Is he Canadian?
Is he a miner for a heart of gold?
https://youtu.be/Eh44QPT1mPE