Source: A Pocketbook of Gold, by Jim Sinclair and Peter Carlin
"Gold is no more than a barometer. It indicates the general feeling of security people have about other asset classes...If you feel safe, hold other assets. If you are concerned -- and let me tell you most people in the world are concerned -- then you move to Gold...The biggest driver of the Gold price is a fundamental lack of confidence in government."
--Peter Munk, 2009
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A highly successful and connected executive and founder of Barrick Gold, the largest Gold mining company in the world, Peter Munk surely understands what drives the Gold market better than most.
Now watch the video below and decide if you have confidence in the U.S. economy.
As we keep stressing, "Understanding the rise in Gold is NOT about the rise in Gold. It is about the loss of confidence in the U.S. dollar as the world's reserve currency." BK
