Friday, 17 February 2017
Gerald Celente - Debt Crisis Builds-Buy Gold
Top Trends researcher Gerald Celente says that Trump is inheriting a U.S. and global economy that is bullish for gold prices. Celente explains, “The debt crisis continues to build. The people are in an uproar about getting their pensions robbed from them. There are more taxes on them to give the money to the banks that did the dirty deals. Look beyond the United States, and we do not give financial advice, gold is the ultimate safe haven asset in a time of economic turmoil and geopolitical instability. . . . Our forecast for gold, and let’s say the price is $1,240 per ounce, the downside is another $100 to $150 per ounce. It cost more than that to pull it out of the ground. So, it’s not going to go much lower than that ($1,240) . . . . That’s no downside risk. Here’s our forecast on the upside. Gold has to break above $1,400 per ounce and solidify over that price, somewhere in the $1,440 to 1,480 range. Once it solidifies in that range, we are saying it’s going to spike to over $2,000 per ounce. That’s our forecast, and we have been saying that for the better part of a year and a half.”
Includes discussion about the recent Flynn resignation and Trump's battle against the neocons, plus the economic situation in Europe.
[Posted at the SpookyWeather blog, February 17th, 2017.]