UBS analysts remain bullish on gold, forecasting the price to rise to between $5,900-$6,200 by the end of the year, “as the key drivers underpinning its strong rally remain in place.”
Despite the bullish arguments for gold and silver relating to currency destruction that remain in force, they are likely to get caught up temporarily in a maelstrom of mass liquidation...
Oil is being driven by geopolitics and war. That is not inflation. Inflation was cutting interest rates and manipulating bond markets in service to money printing and liquidity.
These failed measures are increasingly recognized as unwise policy that harms free-market competition, involves a large new government program, and serves only narrow vendor interests.
The toll is likely far worse than they are telling us. US military facilities in the region are damaged, with billions of dollars in radar and other equipment destroyed.
In 1857, the gold was worth about $2 million. With gold over $5,000 an ounce, the melt value alone would be somewhere in the neighborhood of $2.2 billion.
Keep in mind that gold went from $1,000 to $700 in 2008 as the markets were unraveling, before hitting $1,900 a few years later. And I think we’re in a similar situation now...
The relentless monthly budget deficits keep pushing the national debt higher. After eclipsing $38 trillion in October, it has ballooned to $38.9 trillion today.
