Loading ...Comment: At this point, I think TPTB actually NEED and WANT high Gold prices. Its theirs and every gold owners “insurance” policy.
parts: Is Ms. Mossavar-Rahmani not aware that the U.S. dollar has already been debased by ninety-nine percent? And, that gold at $2000 per ounce (a one-hundred fold increase from $20 per ounce) already reflects that debasement?
However, others at Goldman are “buy(ing) into” gold. Prior to the interview with CNBC, a team of commodity analysts at Goldman raised their 12-month forecast for gold to $2300 from $2000.
They cited “a potential shift in the U.S. Fed toward an inflationary bias against a backdrop of rising geopolitical tensions, elevated U.S. domestic political and social uncertainty, and a growing second wave of COVID-19 related infections”.
Investor Warren Buffett sold his entire position in Goldman Sachs stock during the pandemic earlier this year. This was in addition to large sales of his holdings in other bank stocks such as JPMorgan Chase, Wells Fargo, and PNC.
That might not seem too unusual on its own, given expectations of large potential loan defaults on the horizon. Buffet also sold significant positions in other industries and is known for being a highly cautious investor.
The curiously interesting fact emerging from all of this is that Warren Buffet, while he did add to his positions in a few stocks, he added only a single new stock to his portfolio – Barrick Gold.
https://finance.yahoo.com/news/goldman-sachs-gold-buffett-sacks-072632463.html