"We're in a currency crisis," notes Ian Gordon
"I'm extremely bullish for the gold price in 2014," Longwave Group founder Ian Gordon tells The Gold Report in a new interview published Jan. 20. Gordon is a technical analyst who specializes in the study of long-term trading cycles and patterns, particularly the theories of Nikolai Kondratiev."We've been in a secular bull market for gold and the gold stocks effectively since 2000. ... This bullish phase should take the price of gold to $3,300/oz and the HUI Index to $990 sometime early in 2017. It won't be straight up; there will be intermediate corrections along the way."
Gordon added: "The world is facing an unprecedented fiat paper money currency crisis that can only end very badly. ... I'm confident that the gold bull market is nowhere near over because in times of crisis gold becomes the money of choice. As I have already said, we are facing a mammoth crisis."
On equities: "I'm extremely bearish on the stock market," he said. "The Federal Reserve will be out of ammunition to keep stock prices higher. Interest rates in the U.S. are essentially at zero and we're pushing money at the rate of $75B a month into the major U.S. banks. When the market caves in, the Fed will be unable to bring it back because it has no room to cut interest rates. If the Fed keeps printing money at the current rate or increases it, the dollar will be under tremendous pressure. The Fed is caught between a rock and a hard place."
More information can be found online at http://www.goldbullionadvisors.com
No comments:
Post a Comment