By: Bob Chapman, The International Forecaster
Gold has again broken out to new highs and silver is on the cusp of doing so as well. Unfortunately more than 95% of the pundits were not on board; they believed it was going lower.
The fight for monetary supremacy between the dollar and gold for over the past 16 months has been won by gold and that is why gold is moving higher and the dollar lower. The recent intervention in the currency markets by Japan, ostensibly to weaken the yen, assisted by the US and foreign central banks, won’t strengthen the dollar for any appreciable period of time. The US dollar has broken down and there is no going back.
How can anyone want to be long the dollar when it has lost 80% of its value in 11 years versus purchasing power and more than 15% annually versus gold?
The current rally that has just begun will last at least through February and perhaps through June before there is any meaningful correction. By that time we could be looking at $3,000. It is anyone’s guess as to how high it is going, but one thing is for sure, it is going higher.
We predicted these number ten years and three months ago, but we did not envision it would take so long. We were right, but it was a long painful process impeded by the US government in which they won many battles, but we are winning the war. Gold should today be selling at more than $3,000. That will happen over the next two years. The longer government draws out the war the higher gold will climb. We have just entered phase 2 of 3 or 4 phases. This process could take 3 to 5 years, dependent on what happens over that period of time. There could be a financial, monetary and economic collapse or a major war that could sharply alter the results and time frame. What is important is that in owning gold and silver you will be invested in the only assets that can protect you. There also is an outside chance gold or silver could again become part of a future monetary system. Do not forget gold is not only appreciating against the dollar, but every other currency as well. Suite et source
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