“The Pacific Group Ltd. formerly , founded by a former PaineWebber Inc. trader, is converting one-third of its hedge-fund assets into physical gold, betting that prices will go up as governments print more money to pay off debt. The Hong Kong-based asset manager plans to take delivery of $35 million worth of gold bars that can be traded on the London Bullion Market Association and other international markets, William Kaye, its founder and chief investment officer, said in a telephone interview on Jan. 18. It has secured vault space at Hong Kong International Airport to store the gold, he said.”
Pacific Group to Convert 1/3 of Hedge-Fund Assets to Gold
- Post author:The Freedom Watch Staff
- Post published:February 3, 2013
- Post category:Network Archives
Tags: Asia, Bankocracy, CLibertyC, constitutional liberty coalition, economic Trends, for life and liberty, investment, Mainstream News, Precious Metals, Resistance, sound money, The Freedom Watch
The Freedom Watch Staff
News before it is news for the resistance from a trusted correspondent.
The Freedom Watch Network