Ron Hera and Alasdair Macleod on why gold will reemerge as a safe haven

Ron Hera, founder of Hera research, and the GoldMoney Foundation’s Alasdair Macleod discuss mining stock valuations, the continuing economic decline across much of the developed world, and how gold will reemerge as the ultimate safe haven asset.

They also discuss the outlook for gold and silver mining stocks. Although the gold price has dropped recently, it has not been that big a drop in percentage terms, in contrast to gold mining stocks — with the shares of some mid-range and smaller gold producers having dropped by over 50% from their 52 week high.

Hera and Macleod note that the recent US dollar rally is the mirror image of the euro’s decline, and expect the dollar rally to run out of steam shortly. Hera expects that in the coming years more and more people will realise that gold is ultimate safe haven asset, and argues that the US economic recovery is built on sand.

This video podcast was recorded on May 16 2012 at the Hard Assets Investment Conference in New York.

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Alasdair started his career as a stockbroker in 1970 on the London Stock Exchange. In those days, trainees learned everything: from making the tea, to corporate finance, to evaluating and dealing in equities and bonds. They learned rapidly through experience about things as diverse as mining shares and general economics. It was excellent training, and within nine years Alasdair had risen to become senior partner of his firm. Subsequently, Alasdair held positions at director level in investment management, and worked as a mutual fund manager. He also worked at a bank in Guernsey as an executive director. For most of his 40 years in the finance industry, Alasdair has been de-mystifying macro-economic events for his investing clients. The accumulation of this experience has convinced him that unsound monetary policies are the most destructive weapon governments use against the common man. Accordingly, his mission is to educate and inform the public in layman’s terms what governments do with money and how to protect themselves from the consequences.

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