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Sorry – No Conflict of Interest

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Why I Left Goldman Sachs

The people preaching the nonsense about gold far too often have a self-interest. That is no different than expecting trading with a New York Bank that they have your best interest at heart. Come on. Look at the Press Reviews of Greg Smith’s book. You will see numerous reviews defending Goldman Sachs. Right! What Smith wrote about is standard practice in New York City. Any hedge fund manager worth his wait has dealing lines everywhere and give-up agreements. You have to be out of your mind to put all your business through one firm. I had dealing lines at every house from Asia to Europe. That was the ONLY way to keep the banks honest – make them compete for the business. Firms that will not let you deal that way cannot be trusted.

So sorry. Don;t bother me if you do not like what I have to say about gold. The ONLY way gold will recover is to stop the hype and bullshit, and call it like it is. That expands the marketplace. The rest is preaching to the choir and the conflicts of interest are just burning and churning.