Although it may not always be a popular trade, Elliott Investment Management is long gold, citing a lack of "monetary discipline" as a key reason to own the yellow metal. In fact, they said the case to hold gold keeps getting stronger.
No one is happy
In their second-quarter letter to investors, which was obtained by Hedge Fund Alpha, the Elliott team noted that no one is happy with the U.S. dollar being the global reserve currency, but all alternatives are even less attractive.
In fact, they went so far as to state that "monetary discipline is gone," adding that no major central bank "considers itself to have the primary and inviolate obligation to maintain the value of fiat money."...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
