Philip Manduca, Gold Heading Above $2000 By 2011?

Philip Manduca, head of investment at ECU Group, speaks to CNBC about the "stress tests" for banks, the bear market rally and gold. He foresees inflation, currency devaluation and a second wave of massive deleveraging on the horizon, and is therefore very bullish on gold.


"You will, in my opinion, see gold well above $1500 before the end of next year, based on risks of inflation, because it's the only way we're going to get out of the debt problem; [you will also see] currency debasement and devaluation, because it's the only way we're going to get out of the debt problem, and of course [you will see] the potential for a massive debt bust", he said.

Philip Manduca : Gold Stands At Risk of Correction

Aug. 5 (Bloomberg) -- Philip Manduca, head of investment at ECU Group Plc, talks about his investment strategy for currencies and gold. He speaks with Maryam Nemazee on Bloomberg Television's "The Pulse."