“The Pacific Group Ltd., founded by a former PaineWebber Inc. trader, is converting one-third of its hedge-fund assets into physical gold, betting that prices will go up as governments print more money to pay off debt. The Hong Kong-based asset manager plans to take delivery of $35 million worth of gold bars that can be traded on the London Bullion Market Association and other international markets, William Kaye, its founder and chief investment officer, said in a telephone interview on Jan. 18. It has secured vault space at Hong Kong International Airport to store the gold, he said.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
S&P calls US lawsuit retaliation for stripping AAA rating
NSA spied on Indian embassy and UN mission, Snowden files reveal
Needy EU Nations Woo Chinese Home Buyers to Ease Slump
Power Metals CD launched with exposure to gold, silver, copper
The Golden State Killer has been found, and he was a police officer
U. of California extends smoking ban to e-cigarettes, chewing tobacco
Debt crisis: Spain 'will need extra bail-out'
77,000 Foreign Banks To Share Account Info With IRS
Study links genetically modified grain to stomach inflammation in pigs
Ingham County judge rules Detroit bankruptcy be withdrawn
Dow, S&P 500 set record highs on Bernanke, upbeat earnings
Europe To Pay Iran In Euros For Oil, Abandoning The Dollar
A General Gets Knifed
Fund Managers Are Ditching Wall Street for Florida's 0% State Income Tax
Defense Secretary Panetta admits the Pentagon and Clinton supported arming Syrian rebels