Greenspan: Gold is going higher
Duncan Richardson, News Editor
30 Oct 2014, 10:18 a.m.
It appears you have to wait for Central Bankers to retire before they will give you their real views on the economy and gold. Alan Greenspan, Fed Chairman from 1987 to 2006 did just that on Saturday at the New Orleans Investment Conference.
Mr Greenspan said “gold is a good place to put money these days given its value as a currency outside of the policies conducted by governments.”
When asked for his opinions on the gold price, Greenspan responded by saying the gold price will be measurably higher in 5 years’ time.
Greenspan went onto say, “I don’t think it is possible for the Fed to end its easy money policies in a trouble free manner. I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.”