A piece in the Financial Times today says David Einhorn, founder of hedge fund Greenlight Capital, is among hedgies who are betting against central banks by buying gold. Einhorn, the FT notes, is famous for shorting Lehman Brothers before its problems became massively evident, leading to the bank’s bankruptcy. The article quotes from a note Einhorn sent to investors, stating, “”The size of the [U.S. Federal Reserve's] balance sheet is exploding and the currency is being debased. Our guess is that if the chairman of the Fed is determined to debase the currency, he will succeed.” Gold wins in both a deflationary or reflationary scenario, he writes: “Our instinct is that gold will do well either way: deflation will lead to further steps to debase the currency, while inflation speaks for itself.”