Gold is reversing its earlier losses as retail sales weakness prompts expectations of moar easing to save the world. This among other reasons is why Elliott Management's billionair manager Paul Singer told a conference in tel Aviv this morning that he likes gold and the precious metal "should be in every portfolio." Noting that it has been "treated unfairly," Singer says gold should be as much as 10% of everyone's assets. *ELLIOTT MANAGEMENT CORP'S PAUL SINGER SPEAKS IN TEL AVIV *PAUL SINGER SAYS HE LIKES GOLD; SHOULD BE IN EVERY PORTFOLIO *PAUL SINGER SAYS GOLD HAS BEEN TREATED `UNFAIRLY' *PAUL SINGER SAYS GOLD SHOULD BE AS MUCH AS 10% OF A PORTFOLIO As Bloomberg reports, “In a world where the value of paper money is affirmatively aimed at being degraded by central bank policy, it’s kind of surprising to me that gold can’t catch a bid,” the billionaire and member of Bloomberg Markets 50 Most Influential said at a conference in Tel Aviv on Wednesday. “I like gold. I believe its under-owned. It should be a part of every investment portfolio, maybe five to ten percent.” Singer took aim at monetary policy makers for a staggered economic recovery from the 2008 financial crisis, and what he called the "cult of central banking" in which investors turn to regulators such as Janet Yellen and Mario Draghi to solve the ills of the global financial system. And while those policies have "levitated" bond and equities, Singer is surprised by how little the investors he meets with own gold. Confirming what Singer previously noted (at this year's Ira Sohn conference) Every institutional portfolio should be 5-10 percent invested in gold to protect against zero interest rates that are degrading the value of paper currency, Elliott Management Chief Executive Paul Singer said on Wednesday. Gold was the one tradable asset that has been "treated unfairly", he said at the Sohn Investment Conference, adding that his fund holds gold through options. "Gold is the only real money," Singer said. "Gold would do well if people felt they needed some real asset to protect against inflation, government policy and/or diversification from stocks and bonds." Singer said that seven years after the outset of the global financial crisis, governments had not yet enacted pro-growth policies, leaving central banks to run the global economy.