gold

to reiterate what Oly has previously said:
from the Australian...

Minds like golden traps

PAUL Mylchreest and Pure Speculation are like two minds thinking as one, although the London-based analyst's brain is, by a long chalk, the bigger and sharper (and no doubt better paid) of the two.

Mylchreest came to our attention almost two years ago when he was working at Credit Agricole's broking division and penned the report, The Remonetisation of Gold, in which the bottom line was: "start hoarding". Gold was then about $US550/oz, so that call seems to have been on the money.

Now, working at Redburn Partners, he has come out with a new 104-page report on gold.

After arguing that this global credit bubble will lead to either a purge by deflationary recession or inflation by debasement of currencies, Mylchreest concludes with this zinger: "Gold wins in either scenario and is the 'go to' asset along with basic commodities like food and energy".