Tom Keene's EconoChat

摘要

You're optimistic about the economy but at the same time long on gold. How come? WIEN: I view gold as an insurance policy. Just as you buy insurance on your home and you don't hope it burns down, so you buy gold as a policy against your financial portfolio. The reason is that there's a debasing of all paper currencies, not just the yen and the euro but the dollar as well because we are running unprecedented budget deficits. So I [buy] gold as an insurance policy, not because of inflation or geopolitical risk.