Copper King Mining Corporation fka CPRKQ

[rjs1]

Ned Goodman ditches bank stocks for gold
Bloomberg News | 08/08/13

Ned Goodman, founder and chief executive officer of holding company Dundee Corp., shed the last of his bank shares after forecasting global inflation will make investments such as gold stocks and organic beef more rewarding.

… “Our whole investment modus operandi is to get involved in those industries and companies that will gain from an inflationary event,” Goodman, 75, said in an interview at Bloomberg’s Toronto office Aug. 1. “I’m more bullish on gold now than I’ve ever been.”
Goodman, who began managing investments in 1962 with Austin Beutel and Edward and Peter Bronfman in Toronto for Edper Group Ltd., the predecessor of Toronto-based Brookfield Asset Management Inc., is putting his cash into hard assets. With the U.S. Federal Reserve and other central banks printing money, it’s only a matter of time before currencies lose value and inflation rises, Goodman said.

“The world is totally upside down right now — it’s completely crazy,” Goodman said, clicking off his Rolex watch and slinking the chain between his fingers. “I don’t know of another time when every country in the world was printing money.”

Goodman said he doesn’t know when inflation will rise or how drastically, but that his investment strategy is a pre-emptive strike against that risk. “I don’t wait for inflation,” he said. “It’s hard to call, but it’s impossible for me to see the U.S. getting out of trouble without printing more money and it’s impossible to see how Europe survives in the form that it’s in. You look around the world and you say: ‘We’re going to have to have some inflation.’ I want to own assets that are inflation-proof.”

“I am a Warren Buffett freak,” he said of the Berkshire Hathaway CEO and third-richest person in the world, according to the Bloomberg Billionaires Index. “His whole process is really quite simple: he buys things for less than they’re worth.” Miners of precious metals are “dirt cheap,” Goodman said.

Published on Sep 15, 2013

Canadian billionaire businessman Ned Goodman predicts the end of the U.S. Dollar as the world's reserve currency. He predicts the transition out of the U.S. Dollar will become, "...quite ugly." He delivered the lecture at Cambridge House's Toronto Resource Investment Conference 2013 on Thursday, September 12, 2013.