Billionaire Bill Gross, the managing director of Pimco, one of the largest fixed-income investment companies in the world, and the man charged with stewarding the world's biggest bond fund in the Pimco Total Return Fund (PTTR...
by Tim Iacono:
"... Simply put, policy makers (particularly those in the U.S.) are likely to do whatever it takes to try to restore economic growth to its past glory (whether that is possible or not). That will involve inordinate amounts of money printing and even higher levels of debt.
"Regardless of whether we've entered an era of inherently slower growth -- more like 1% or 2% in the U.S. rather double those rates -- elected officials in Washington and the folks at the central bank are sure to summon whatever resources they can to turn things around. That means further debasing the world's reserve currency, and that's a big positive for gold.
"Otherwise, the U.S. turns into Europe.
"Along with the yellow metal, Gross also recommends other commodities ..."