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HSBC’s David Bloom: “Gold Is The Only Safe Haven Asset That Will Not Do QE, Put In Capital Controls Or Complain”

Courtesy of ZeroHedge. View original post here.

Submitted by George Washington.

We asked last month:

Will Easing By The Swiss Central Bank Drive Investors to Gold As The Only Safe Haven?

HSBC’s head of foreign exchange strategy – David Bloom – says yes.

Bloom told BBC last week:

The real beneficiary [of Swiss and Japanese easing] – which never complains, never prints itself – is gold.

And he told the Telegraph today:

The market must fear this will lead to a sharp escalation in currency wars. Gold is the only safe haven asset that will not do QE, put in capital controls or complain.

For an in-depth background on gold, see this, this, this, this, this, this, this, this and this.


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