In response to an FT article by Henny Sender on 24th March 2016, entitled 'Earnings season cools Wall Street's improving mood'
http://www.ft.com/cms/s/0/6c5e23d6-f18f-11e5-9f20-c3a047354386.html#ixzz43oh8w7Ue
'Is gold really a productive investment that will help kick-start growth?'
No, of course not - it's a hedge against unforeseen consequences from governmental and central bank incompetence - as manifest through NIRP, the currency war, and the risk of sovereign default and contagion.
“Cash is trash,” analysts at Merrill argued
Hogwash. Idiotic comments from Wall Street ‘analysts’ talking their book are trash however. In this environment cash is optionality - something that these Wall Street pedlars clearly know very little about.