GoldSeek Radio Nugget - John Rubino: Gold to $10,000, Silver to $300

John Rubino, a Wall Street financial analyst and author of five books, returns with an optimistic outlook on the precious metals sector noting "This will be spectacular before it ends." John penned The Money Bubble: What To Do Before It Pops and Clean Money: Picking Winners in the Green-Tech Boom.

- John expects gold to climb to $10,000 an ounce in the foreseeable future.
- Will silver run to $200-$300 per ounce?

We had a nice run in gold and just recently silver and there's much much further to go. The fundamentals of gold and silver differ a little bit, but they both point in a really positive direction. So it's likely that this is the early innings of a much longer run...gold is going to go to $5000 to $10,000 an ounce; silver is going to go to You know, 150th or 140th the price of gold, which takes it to $200 or $300 an ounce. So that's all out there waiting to happen. Just because we because we screwed up the global financial system when such a vast scale.

But in the case of silver, there are industrial reasons to light that metal too even if it wasn't a monetary metal, the use is for silver, multiplying at such a rapid pace that I think silver is going to go into shortage in the not too distant future in a way that spikes prices regardless of what the monetary system is doing.

...There was a big article somewhere, I just read the headline in a few lines of it about how gold is now an industrial metal because of the space race because a lot of components of satellites are coated with gold because that protects them from the environment out there and there isn't really a substitute. So gold is now going to be an industrial metal in the era of space which just adds to the demand for it. So yeah, I think that what we're seeing now is a good start and there might be a lot of Corrections along the way, but the bull market in precious metals is just getting started and it's going to be spectacular before it ends.

- The first 175 pages of this seminal work (2016) highlight the absolute necessity for sound money and a gold standard.
- Are gold investors and digital asset investors in search of similar outcomes?
- Switzerland was one of the last nations to abandon the gold standard, with profound implications.
- Why don't nations on the gold standard experience hyperinflation?

After Nixon took us off the last vestiges of the gold standard and that allowed a system to evolve that benefits, the rich at the expense of everybody else. If you have, for instance, artificially low interest rates, which is a hallmark of fiat currency systems, that raises financial asset prices..and since the rich people already own, most of the financial assets, like stocks and bonds in real estate, they get richer...

So it makes it harder for regular people to build capital by saving. So, you get this widening gap between rich and poor which eventually destroys a society. Now, that doesn't happen to the same extent in a sound money system because saving is (generally speaking) rewarded and debt is (generally speaking) discouraged because you have to pay your debts back in money, that doesn't lose value year after year. So, you're paying your real debts back and that's harder than paying fake debts and inflating system. 

Sound money is vastly superior and the best way that we've found to maintain a sound money system is to use gold-backed currency or just flat out gold itself as as our currency.

- Will a gold-backed, BRICS currency force the re-adoption of a global gold standard?

- Prepping for increased price inflation supports accumulating a pantry of storable food.
Check out John's Substack