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Crazy Not! Much Higher Gold Prices Egon von Greyerz discussed “3 Dozen Reasons to Hold Gold” and mentioned price targets of $30,000 for gold and $3,000 for silver. Gold sells for $1,310 and silver sells in the mid-$15s. His numbers suggest that gold could increase by a factor of 20 and silver by nearly 200. For perspective, refer to the table below. He shows the many reasons to own gold in the following “Time Bomb – Global Risk” graphic. Are his price targets for gold and silver impossible, crazy, ridiculous, unlikely, excessive, possible, increasingly likely, or inevitable? Or, how crazy is thinking gold will rise by a factor of 20 to $30,000? Big Picture Interpretation from Hugo Salinas Price:
In short… QE to infinity, which will devalue mini-dollars into micro-dollars. The Fed will try to save the stock and bond markets at the expense of the dollar’s purchasing power. Described another way… our consumer prices will skyrocket higher while the stocks most of us don’t own remain levitated.Hmmmmmm, not good except for the elite. Another opinion: Nick Santiago: “$5,000 – $7,500 Gold Less Than a Decade Away” Inevitable? Only a matter of time! Others have observed the price of gold is the inverse of trust in central banks, fiat currencies, and politicians. That explains why the financial and political elite suppress COMEX paper gold prices. The currently popular nonsense is MMT—Modern Monetary Theory or Magic Money Tree economics. Print and spend trillions of digital currency units on political projects, boondoggles, and giveaways to buy votes. What could go wrong after creating trillions in “free” dollars? Well… history shows other countries have tried and failed. The MMT socialists in the U.S. are courting disaster. From Charles Hugh Smith:
Described another way… excessive debt causes its own destruction. Over-printing has destroyed many currencies throughout history, but our central bankers indulge in the fantasy it will be different this time. I doubt it. The Socialism Scams during the next decade:
From Thomas Sowell on Socialism:
SUMMARY
Historical Examples of Huge Increases… or how likely is gold rising by a factor of 10 – 20 in the next decade? From the above table:
Given the above ratios, a gold spike higher to $30,000 is not crazy, unwarranted, or historically unlikely. Will we see $3,000 silver? Will central bankers hyper-inflate the dollar? Will MMT “high priests of printing” create trillions of fiat dollars? We don’t know the future, but central bankers will “print,” politicians will spend, debt will expand, and prices will rise. Gold and Silver will “catch a bid” and rise into a “Jim Sinclair Rhino Horn” pattern. The coming gold and silver price spike will be exciting, depressing, and worrisome. The media will scream in disbelief, “Who could have seen this coming?” From James Sinclair: “The party ends in mid-2019.” Read: Central Banks are Buying Gold by David Schectman And They Call us Crazies by Bill Holter Show Me The Money by Gary Christenson Miles Franklin sells gold and silver. Current prices will be “bargain basement specials” when viewed from the year 2025. Gary Christenson, The Deviant Investor
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