Salient to Investors:
Billionaire hedge fund managers have been heavily buying gold. John Paulson has been accumulating gold and gold mining stocks at a fevered pace. George Soros, Louis Moore Bacon, Julian Robertson et al have been buying gold, mining equities and ETPs. Bill Gross at Pimco has urged investors to buy precious metals.
George Soros says the global economy is in worse shape than during the Great Depression and riots on the streets of American cities are inevitable.
The explosion of stimulus across the world, currency debasement and slowing developing market growth should push gold higher.
Warren Buffett says buying gold is nonsense and that the sell-off in stocks due to the fiscal cliff is a buying opportunity.
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