In an interview with Greg Hunter of USAWatchDog.com, Michael Pento, a financial analyst with Pento Portfolio Strategies, suggests the jig will be up for the bond market and the dollar once the Federal Reserve admits it cannot raise interest rates without cratering the financial markets. He believes the negative rates on European and other corporate bonds are unsustainable, and that the global nature and depth of the bond markets mean that bonds can skyrocket from negative or zero percent to two, three, or even four percent, or higher, in a matter of days. Such a shift in the bond market will signal a major loss of confidence in them by investors and traders.
He believes that the U.S. is in or about to enter into a recession, thus making continuous rate hikes impractical. He also believes once the world figures out that the U.S. markets are no different from Europe or Japan, and the Federal Reserve starts easing again, that gold can easily rocket near or to its all-time highs. Along these lines, Pento has published his book The Coming Bond Market Collapse that elaborates on these ideas.
Bill Murphy, the chairman and director of the Gold Anti-trust Action Committee (GATA), recently interviewed with Greg Hunter of USAWatchdog.com. In this interview, Murphy says he thinks gold will hit $3,000-$5,000 per ounce, which he sees as conservative. Actually, this price target is more conservative than the $10,000 gold price target of Jim Rickards.
He says the “gold cartel” — consisting of bullion banks and central bankers, among others — have been manipulating the price of silver downward. In particular, he believes that the price of silver is targeted for suppression by the powers that be because it is tied to gold, a commodity that trades inversely to the U.S. dollar. Thus, in order to keep the illusion of dollar strength and security, he believes, the silver and gold markets must be suppressed.
Here is the interview:
Jim Rickards and Egon von Greyerz both agree that gold should be valued at $10,000 based on today’s money supply in the video below. They also believe gold is a hedge and form of insurance to economic instability and potential hyperinflation. They also discuss the 1,000 ozt silver bars traded in the bullion markets, along with their unique features, such as their assay marks and serial numbers.
Here is an interesting interview of Andy Hoffman, a silver analyst for Miles Franklin, by FutureMoneyTrends.com. Andy believes that economic turmoil globally will push more people into precious metals and silver in particular, making the shorts in the market unable to cover without significant losses. He believes precious metals shortages are imminent.
The Motley Fool has an interesting article on Keith Neumeyer, CEO of First Majestic Silver, a major silver miner, predicting a $140 silver price.
Is silver really in such short supply that not only could it double in value from its current price, but triple or even quadruple? First Majestic Silver (NYSE:AG) CEO Keith Neumeyer says you would be crazy to think silver will be trading at $30 or $50 per ounce within the next few years. Nope, instead he believes silver will hit $140 per ounce, a ninefold increase from where it stands today.
Notably, Neumeyer believes the higher prices will be driven mainly by the increasing demand for silver in cellphones and other electronics, due to economic growth in emerging economies.
Also, he recently suggested silver could hit $1,000 and gold $10,000 in an interview with Future Money Trends:
The Chicago Tribune has a new article about how the gold standard is gaining mainstream support as more people realize the flaws of the current monetary system.
George Gilder thinks gold-standard ideas are on the way back whatever the politicians do. Founder and chairman of the Gilder Technology Group and a bestselling author who helped popularize supply-side economics in the Reagan era, he says the trillions of dollars that fly around global currency markets every day are a “bizarre abuse of capitalism,” sucking vitality out of the real economy.
Since infographics are the rage nowadays, we’ll provide the Gold Series by Visual Capitalist. Below is the four-part series.
Here is the history of gold.
Here is mining and supply.
Here is uses and demand.
Here is gold as an investment.