Goldman Sachs, Credit Suisse, Gartman and a few others are now declaring that gold is a slam dunk sell. You wonder how these people can charge so much money for their advice. They are consistently wrong when it comes to forecasting the gold price but still they persist. gold has never been a clearer buy.
We know that there will be no tapering because the US economy can only function by printing unlimited amounts of money. We also know for the same reason that the debt ceiling will continue to be increased to infinity just like it has so far.
We also know that there will be bail-ins in most countries in the banking system. But there won’t just be bank bail-ins but there will also be government bail-ins. As desperate governments run out of sources of money they will start stealing from the people by grabbing (they will call it borrowing) pension funds. The most recent examples of this are in Russia and Poland, But it will soon happen everywhere.
This is why is is critical to preserve wealth by holding gold (and some silver) in physical form outside the banking system.
In my King World News audio interview I discuss these matters and much more.
Egon von Greyerz