Steve Forbes Predicts US Dollar Will Link to Gold


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An eternal optimist, Liu-Yue built two social enterprises to help make the world a better place. Liu-Yue co-founded Oxstones Investment Club a searchable content platform and business tools for knowledge sharing and financial education. also provides investors with direct access to U.S. commercial real estate opportunities and other alternative investments. In addition, Liu-Yue also co-founded Cute Brands a cause-oriented character brand management and brand licensing company that creates social awareness on global issues and societal challenges through character creations. Prior to his entrepreneurial endeavors, Liu-Yue worked as an Executive Associate at M&T Bank in the Structured Real Estate Finance Group where he worked with senior management on multiple bank-wide risk management projects. He also had a dual role as a commercial banker advising UHNWIs and family offices on investments, credit, and banking needs while focused on residential CRE, infrastructure development, and affordable housing projects. Prior to M&T, he held a number of positions in Latin American equities and bonds investment groups at SBC Warburg Dillon Read (Swiss Bank), OFFITBANK (the wealth management division of Wachovia Bank), and in small cap equities at Steinberg Priest Capital Management (family office). Liu-Yue has an MBA specializing in investment management and strategy from Georgetown University and a Bachelor of Science in Finance and Marketing from Stern School of Business at NYU. He also completed graduate studies in international management at the University of Oxford, Trinity College.

By: Julie Crawshaw

Forbes CEO Steve Forbes foresees a new link between the U.S. dollar and gold.

“I’ll make a prediction that in the next five years, you’re going to see something that would astound most economists today: The dollar’s going to have a new link to gold,” Forbes tells CNBC.

“A weak dollar means a weak recovery,” Forbes says. “You cannot have long-term growth when your currency’s continually under assault,” he said.

“Unfortunately, the Federal Reserve is absolutely ignorant of that.”

Forbes compares the Federal Reserve’s quantitative easing policy to doctors “in days of old.”

“When the patient was sick, they’d bleed the patient,” he says. “Ben Bernanke’s one of those bleeding doctors.”

Forbes says he expects the Republicans to take control of both houses of Congress and most of the governorships that are up for grabs in the midterm elections.

“People are very upset by the binge spending … by massive new regulations in healthcare and elsewhere and rising taxes,” he says.

Rapidly rising gold prices have prompted some advisers to warn investors against investing in the precious metal.

“While gold may still have further to go, investors jumping in after such strong performance has already been achieved are taking a big risk,” British financial adviser Patrick Connolly told the UK Telegraph.

“Historically, gold has not always been the safe haven it is portrayed to be today and there is every possibility that the price will fall, especially if we start to see real signs of a global economic recovery.”

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