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Fed & yields

David Einhorn: Why Gold Will Keep Rising — And It’s Not Inflation

The Quiet Bank Run in Gold
The Quiet Bank Run in Gold

Hedge fund manager David Einhorn argues that gold’s rise has more to do with trust erosion in government policy than inflation.

He cites persistent deficits, deglobalization, and lack of political discipline as reasons investors are seeking the safety of gold.

According to Einhorn, gold has become a hedge against fiscal mismanagement—not just currency debasement.

Eight more from the desk

Other dispatches from the bullion wire.