Thursday, November 4, 2010

Goldman Sachs has been long gold for years

This explains why John Paulson, a Goldman Sachs client who profited big-time from the collapse of the subprime mortgage market, also went long gold in 2009. JPMorgan and HSBC have outsized short positions in gold and silver. I'm betting on the vampire squid winning.

See disclaimers in the side bar.

Disclosure: precious metals and precious metals mining shares.

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