Even after this takedown, I still don't believe that the secular bull market that's been ongoing for 12 years has come to an end. I still believe we'll have a "2" in front of the gold price before it ends. We're going to have to get to $2,000 before there's any decision on my part about the end of the bull run. ...
The vast majority of so-called professional advisers and the media simply hate gold. Expecting them to rally around it would be similar to going into a Ford dealer and expecting to be told, "If you really want a good car go down the block to the Chevy dealer."
I would be worried about being a gold bear right now. You have to ask yourself what is it going to take to really crack the market? We had an onslaught of bear forecasts. We had an onslaught of selling in the paper market. Yet, as we speak, much of that decline has already been taken back. There's going to be a reversal and these bears are going to have to run for cover. ...
The U.S. stock market is nearing the end of the single largest bear market rally in history. This is what I predicted in 2009 would occur. There won't be a collapse as soon as it does top out because quantitative easing will create a cushion. With the economy rolling over again, I don't foresee the end of quantitative easing.
There will probably be some more shenanigans by the Federal Reserve to give another kick to the can, but the time will come when the world realizes that we cannot afford to pay back what we owe, much less the interest. That's when the financial markets will be hit hard. That's when there will be a collapse of the bond market and a very sharp decline for general equities.
In the meantime, we will see $2,000 gold. The recent gold takedown was not driven by fundamentals. It was not fun living through it, but it was actually something that is going to fortify this secular bull market that's been underway for 12 years and is going to mark the next leg of the bull run for gold.
The vast majority of so-called professional advisers and the media simply hate gold. Expecting them to rally around it would be similar to going into a Ford dealer and expecting to be told, "If you really want a good car go down the block to the Chevy dealer."
I would be worried about being a gold bear right now. You have to ask yourself what is it going to take to really crack the market? We had an onslaught of bear forecasts. We had an onslaught of selling in the paper market. Yet, as we speak, much of that decline has already been taken back. There's going to be a reversal and these bears are going to have to run for cover. ...
The U.S. stock market is nearing the end of the single largest bear market rally in history. This is what I predicted in 2009 would occur. There won't be a collapse as soon as it does top out because quantitative easing will create a cushion. With the economy rolling over again, I don't foresee the end of quantitative easing.
There will probably be some more shenanigans by the Federal Reserve to give another kick to the can, but the time will come when the world realizes that we cannot afford to pay back what we owe, much less the interest. That's when the financial markets will be hit hard. That's when there will be a collapse of the bond market and a very sharp decline for general equities.
In the meantime, we will see $2,000 gold. The recent gold takedown was not driven by fundamentals. It was not fun living through it, but it was actually something that is going to fortify this secular bull market that's been underway for 12 years and is going to mark the next leg of the bull run for gold.
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