11:45a ET Sunday, August 9, 2009
Dear Friend of GATA and Gold:
Paul Brodsky and Lee Quaintance, principals in QB Asset Management in New York, have published a fascinating report speculating that massive inflation in the United States will be required to restore solvency to the country's banking system, that other countries will stop facilitating the export of U.S. dollar inflation, that the "shadow" gold price is really approaching $6,000, and that to achieve the necessary inflation central banks will arrange a "managed devaluation" of the dollar bringing gold closer to its "shadow" price. The QB report thus echoes much of what the British economist Peter Millar of Valu-Trac Investment Research wrote in his own report in 2006. (See http://www.gata.org/node/4843 [1].)
QB Asset Management has kindly allowed GATA to post its report, which is titled "Trade of the Century?" and can be found here:
http://www.gata.org/files/QBAssetManagement-07-2009.pdf [2]
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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