Buy Gold As Bonds Are ‘Biggest Bubble In World’ – Warns Billionaire Singer

GoldCore's picture

Buy gold as bonds are in the "biggest bubble in the world" and it is a "a very dangerous time in the global economy" according to billionaire investor, Paul Singer.

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Speaking at the CNBC Delivering Alpha Conference, the respected hedge fund manager, Singer said he favours a diversification into gold right now.

He thinks that gold is “underrepresented in many portfolios as the only money and store of value that has stood the test of time.” He added that at current prices gold is “undervalued.”

For Singer, the founder of the $27 billion Elliott Management, owning gold is “opposite confidence in central banks” who have made the bond market “the biggest bubble in the world.”

Singer urged the room of investors to sell their bonds:

“I think owning medium to long-term G-7 fixed income is a really bad idea. By removing these things that are bad ideas, that’s a helpful thing. Sell your 30-year bonds. ”

The bond market is $60 trillion. Right now, nearly $10 trillion in fixed income is negative yielding. He added that these prices and yields contain a “tremendous, never-before seen asymmetry between potential further reward and risk.”

Singer is among a number of hedge fund managers who have become increasingly vocal against central bank policy. He said that central banks have created a “tremendous increase in hidden risk and "unusual dangers that are unique in the '5,000 years-ish' history of finance."

 

Transcript of Singer interview with CNBC here and video here

 

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Gold Prices (LBMA AM)

15 Sep: USD 1,320.10, GBP 999.82 & EUR 1,174.23 per ounce
14 Sep: USD 1,323.20, GBP 1,001.40 & EUR 1,177.91 per ounce
13 Sep: USD 1,328.50, GBP 1,000.36 & EUR 1,183.69 per ounce
12 Sep: USD 1,327.50, GBP 1,000.80 & EUR 1,182.54 per ounce
09 Sep: USD 1,335.65, GBP 1,004.68 & EUR 1,184.86 per ounce
08 Sep: USD 1,348.00, GBP 1,009.11 & EUR 1,195.81 per ounce
07 Sep: USD 1,348.75, GBP 1,008.60 & EUR 1,199.85 per ounce

Silver Prices (LBMA)

15 Sep: USD 18.96, GBP 14.32 & EUR 16.87 per ounce
14 Sep: USD 19.04, GBP 14.42 & EUR 16.96 per ounce
13 Sep: USD 19.16, GBP 14.44 & EUR 17.06 per ounce
12 Sep: USD 18.72, GBP 14.11 & EUR 16.68 per ounce
09 Sep: USD 19.41, GBP 14.58 & EUR 17.23 per ounce
08 Sep: USD 19.93, GBP 14.90 & EUR 17.65 per ounce
07 Sep: USD 19.92, GBP 14.89 & EUR 17.71 per ounce

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One-Eyed-Thong's picture
One-Eyed-Thong (not verified) Sep 16, 2016 11:03 AM

PRINT BABY, PRINT !!!

Carpe Tutti Bastardi's picture

They're doing it yet again this morning!

InnVestuhrr's picture

PMs are the FIRST thing that the regimes will ban trading in and CONFISCATE as the big crash unfolds - SAME AS THEY DID IN THE PAST.

The regimes don't worry about confiscating your fiat-based assets because they can devalue those just using computer keystrokes.

BandGap's picture

Even with the Asian market closed they cannot shake the Shanghai anchor.

bobsmith5's picture

He thinks that gold is “underrepresented in many portfolios.

Of course it's underrepresented as the central banks have been wildly successful in putting a lot of doubt in the mind of investors.  With massive paper shorting the PM markets 24/7, everyone who is unaware of the macro game plan to keep the dollar as the international reserve currency as long as possible, the pms must be manipulated, suppressed, and totally controlled as long as possible to keep the most massive Ponzi scheme ever created by mankind going for one more day. 

It's anyone's guess as to how long they can keep this insanity going and from imploding in a massive catastrophic worldwide collapse.

Flying Wombat's picture

Meanwhile, the PTB puts gold on sale this morning:

Mainstream Turns Blind Eye As Someone Dumped 70 Tons Of Paper Gold At 8:30 a.m. – Dave Kranzler

http://thenewsdoctors.com/mainstream-turns-blind-eye-as-someone-dumped-70-tons-of-paper-gold-at-830-a-m-dave-kranzler/

Bob's picture

Hey, you can dump a load in an actual working toilet of solid gold at the Guggenheim!

http://www.huffingtonpost.com/entry/gold-toilet-guggenheim-museum_us_57d...

Usually would say "No shit!" to emphasize I'm not bullshitting, but that would contradict the facts here. 

HANGEMHIGHER's picture

I spent years stacking my fancy paper, and all I was doing was stacking fraudsters and criminals IOU'S. All my paper has gone now, and there will be no more IOU'S for me.

brockhardman's picture

I saw the headline and thought it mean a "billionaire singer".  I was like, who makes that kind of money singing anymore?  Unless you are a Wall St. muppet basher who likes to hit the karaoke bars after your legs and eggs buffet and a few lines of columbian.

Carpe Tutti Bastardi's picture

Yes, and if you are not being fecitious, it was a stupidly contrived headline!

I for one avoided accessing the article in as much as I thought not a wit

about what some "singer" had to say about the subject.