Gold prices will top $10,000 per ounce, the stock market will tank and Treasurys will yield less than 1 percent, Societe Generale’s Albert Edwards forecast.
“My working experience of the last 30 years has convinced me that policymakers’ efforts to manage the economic cycle have actually made things far more volatile… The current round of quantitative easing will be no different,” said Edwards in a weekly strategy report.
“We have written previously, quoting Marc Faber, that ‘The Fed Will Destroy the World’ through their money printing. Rapid inflation surely beckons. But that will not occur without firstly a Japanese-style loss of confidence in policymakers as we dive back into recession and produce dislocative market moves.”
Gold: When comes the explosion?
Many owners of gold tremble and ask if the 1000 holds. But many more are shaking banks that precious metals sold short. Short positions are on record.When it comes to hard coverings, also comes the moment of truth for the gold price.
COMEX: Record shorts with gold
Graphic: Zero Hedge / Bloomberg
“ It is time to slaughter the lambs ”subtitled Zero Hedge cynical and points to unprecedented short positions on the COMEX for gold. Not those who have the gold must have been worried, but those who speculate on falling prices.
The Fiat End Game
Demand for Physical Gold and Silver is Extraordinary, Bail-Ins Inevitable and More: James Turk
James Turk of Goldmoney.com predicts, “It’s inevitable you are going to see bail-ins as we go forward from here because the capital just doesn’t exist.” He also says gold is going much higher in a scramble for tangible assets. Turk points out, “The problems we’ve been confronting the past several years haven’t gone away . . . governments have been trying to buy time, but they aren’t coming up with any solutions.” Join Greg Hunter as he goes One-on-One with Gold expert James Turk from the UK.