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