GeeAyeC: Buy Gold Woh! Why Didn't He Advise His Emperor to Do This Earlier?

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Expect more market turmoil: GIC official
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>




<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->FURTHER financial market turmoil can be expected over the next 12 to 18 months, an official from the Government of Singapore Investment Corporation (GIC) has warned.
Speaking in a personal capacity at the Investment Management Association of Singapore Conference, GIC's director of economics and strategy, Mr Yeoh Lam Keong, said the global economy faced the risk of the most 'intense deleveraging' during this period.
According to Reuters, he predicted yesterday that there will be three years of a very vicious down-cycle. There was 'systemic capital inadequacy globally', which was going to be 'very destructive' for assets. The financial sector could see writedowns totalling about US$3.8 trillion (S$5.8 trillion) by the end of 2013.
With governments under pressure to devalue their currencies to cope with falling demand - and possibly resorting to printing money to reduce their debt - he advised investors to hold gold.
Mr Yeoh also recommended safe assets such as government bonds, as well as the Chinese yuan and the Japanese yen. The US dollar and the British pound should be avoided. He also favoured corporate bonds ahead of equities.

 

[pia]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Expect more market turmoil: GIC official
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>




<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->FURTHER financial market turmoil can be expected over the next 12 to 18 months, an official from the Government of Singapore Investment Corporation (GIC) has warned.
Speaking in a personal capacity at the Investment Management Association of Singapore Conference, GIC's director of economics and strategy, Mr Yeoh Lam Keong, said the global economy faced the risk of the most 'intense deleveraging' during this period.
According to Reuters, he predicted yesterday that there will be three years of a very vicious down-cycle. There was 'systemic capital inadequacy globally', which was going to be 'very destructive' for assets. The financial sector could see writedowns totalling about US$3.8 trillion (S$5.8 trillion) by the end of 2013.
With governments under pressure to devalue their currencies to cope with falling demand - and possibly resorting to printing money to reduce their debt - he advised investors to hold gold.
Mr Yeoh also recommended safe assets such as government bonds, as well as the Chinese yuan and the Japanese yen. The US dollar and the British pound should be avoided. He also favoured corporate bonds ahead of equities.

Maybe a coincidence.. but everytime some a**hole from TMS and GIC talk, the markets go the opposite direction.

Hope they can keep their traps shut. My gold value went down already

Anyway, juz kidding. Don't expect these useless guys to have enuff clout to sway markets.

 

[ah_phah]

wait till now then decide to buy gold? a bit late right???? gold price already sky-rocketed since Q3 last yr liao.

 

[R4g3]

our elite always 1 step slower, or maybe 8,9 steps slower.

now then they start talking about buying gold...

i started buying gold when our local bank only guarantee 20k, because it seems to be the only thing that is safe. Can't buy property, can't buy share (no good with investment), can't keep in bank (only guarantee 20k) so only choice is buy gold.

And i believe if i can think of this, many others would too (only our elite don't), so the price of gold going upwards is not surprising.