The gems don’t stop coming from SocGen, which has been advising clients how to play the end of the world, while predicting fresh lows in the market in 2010.
And (duh) they love gold.
Rolfe Winkler: Is gold going to $6,300? Dylan Grice, an analyst with Societe Generale, says it’s possible, given the decline in central bank credibility. But investors need to keep one thing in mind: Gold is merely a vehicle to protect the purchasing power of money.
Gold is surging because investors see that the Federal Reserve — more concerned with deflation and unemployment than sound money — may be trapped in a never-ending cycle of monetary accommodation.
Why a never-ending cycle? Because of this: massive debt.