Day 1- Session 3: Precious Metals Sector
Gold & Silver Outlook
Objective Capital Global Mining Investment Conference 2010
Stationers' Hall, City of London
28-29 September 2010
Speaker:
Arthur Vestey - Cheviot Asset Management
14. 14 Alan Greenspan Quotes 1966: “In the absence of the Gold Standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value... deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process.” 2009: “The rise in gold and silver is strictly a monetary phenomenon and is an indication of the very early stage of an endeavour to move away from paper currencies’.” 2010: “Fiat money has no place to go but gold…If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.”