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kingworldnews.com / January 25, 2013
Today
legendary value investor Jean-Marie Eveillard, who oversees $73
billion, told King World News, “I say to myself when I’m in a good mood,
‘Wall Street is nothing but a vast promotion machine.’ When I’m not in
a good mood I tend to think, Wall Street may be, after all, a den of
thieves.” Eveillard also tore into Goldman Sachs for their bearish call
on gold, and went on to emphatically state, “I’m not selling any of the
gold I own.”
Here is what Eveillard had to say: “What’s catching
my eye is the Fed is printing enormous amounts of money. Meanwhile the
Bank of Japan, which up until recently had been quite reluctant to
print money, Mr. Abe has now indicated without any ambiguity they will
print very freely. ”
Jean-Marie Eveillard continues:
“To the
extent that the central banks continue to print, and at some point the
European Central Bank will print again, I think we have the conditions
for the pure paper money system, which has been in place now for more
than 40 years, to continue to fray at the edges.
So what I’m
saying is that I have no idea where the price of gold will go over the
short-term, but I think from a medium-to-long-term standpoint the
conditions continue to be quite ripe for the price of gold to go up
again. Now I understand that Goldman Sachs has recently produced a
paper which is negative towards the price of gold….
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