Loading ...Interesting interview
I have been following him for some time and I must say that so far he has been very accurate, in the middle of the covid crash he was sure that both precious metals and the stock market would recover, now he says that gold and silver will go respectively to 1900 and 26 and then they will collapse together with the stock market in a deflationary depression ,after this depression gold and silver will begin a stellar bull market that will lead them to unthinkable targets while the stock market will not exceed the old highs for at least a decade.
We’ll see….
A lot of what he says fits in the charts. He is not giving trading advise, just macro. But when you fit his theories in the monthly charts… his targets are plausible.
Sell at 1900, Patrick? That is going to be a difficult decision.
This is going to be one of the most difficult decision to make….but it will prove vital.
Yes, Mamare.
Thats why we will need to look at landscape.. and make a weighted decision. Im trying to let gold do its thing and look at copper.. oil and vix and gsr hitting walls on monthly chart. I think we.get an event where gold will also ve at important resistance also at that moment. If its 1.9k or 2k.. we’ll see.
Also add distance from MA analysis… we might have our answers then.
This is scarey stuff after sitting back and reflecting on what is being said. but it fits right in, FED remains in control with all these stimulus packages, for a while longer. I hear that they are working on the 3 Trillion version just after ramming the first set of “Corona” stimulus packages through. This was actually just passed in the house. We are under severe strain so expect this to be negotiated to something, probably 2.99 Trillion. Lets see 3 Trillion divided by every ameriacn (say 400 million) that is $7500 per US person in this non hyperinflationary environment. Quite a commitment, not to many of these in US history. Panic in the air.
https://www.foxnews.com/politics/house-passes-3t-coronavirus-relief-the-most-expensive-bill-in-history
I follow him on twitter and pretty much read every tweet and response from him. You can see he is a great twitter contrarian indicator based on how much hate he gets when he gives his 4K S&P target when we were seeing huge down days in March.
He used to say the fed wasn’t doing enough and needed to start printing money and fast forward a few weeks later and here we are with possibilities 2 rounds on 3 trillion in stimulus. With potentially more to come in the summer.
His target is now 2k for gold.
I may take half off the table if his 2k gold, 26 silver, and gdx and SIL targets get hit. Then if we start declining I’ll sell the rest.
Then that’s the end of Canadian juniors for me maybe and will stick with US listed companies since he targets the DXY to hit 160 I think (or some big number)
Scary times but if he’s right. Could be an opportunity of a lifetime if the world is hurting and we have cash ready to deploy.