Gold has lately built such a reputation as a safe haven from the financial storms wracking the world that it is something of a shock to find an analyst who believes the soft, yellow metal is wildly overrated. (See here: http://seekingalpha.com/article/121250-gold-the-only-remaining-bubble) According to Alan Brochstein, the inflation argument for gold is mistaken: “The water is flowing, and the inflationists are fearing that it will overflow. What they fail to realize is that the drain is running even faster.”
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