22
Jul

April Call To Wait And Buy Gold Below $1,000 Still In Effect

Summary

  • The Dollar has been rising since 2011 yet every “expert” in gold still calls for a dollar crash.
  • Despite a possible bounce in gold at present, gold will still break below $1,000 as we complete the deflationary credit contraction phase.
  • Fear; still the missing ingredient. Where will it come from? For gold to move higher this fear must come from the U.S. and Fed policy failure.
I just finished up exhibiting at FreedomFest the week of July 11th and I was the only gold dealer there who was not pushing high commissioned numismatic/rare coins on attendees. I was also the only gold dealer there who was telling everyone I thought the price of gold would go lower. You can find a recap of my calls on gold and gold mining stocks since 2010 here.

What Dollar Crash?

Another attendee at the show was Peter Schiff who has used the fear of a dollar crash to sell gold the entire move higher for the dollar; (2011, 2012,2013, 2014 and 2015).

Not in attendance was Mike Maloney, who has also been on the dollar crash bandwagon since the 2011 rise in the dollar; (2011, 2012, 2013, 2014, 2015).

Does this look like a dollar crash or hyperinflation/death of the dollar?

What do all these predictors of fear and dollar crash/hyperinflation have in common? To have their crash occur, then by default, what makes up the dollar index; the Euro, Yen, Pound, Canadian Dollar and Swiss franc, would have to skyrocket. Have you seen what’s going on in Europe with Greece and most of Euroland?

This article continues exclusively at SeekingAlpha.com here: http://seekingalpha.com/article/3344695-april-call-to-wait-and-buy-gold-below-1000-still-in-effect – It was also Editor’s Pick http://seekingalpha.com/analysis/all/editors-picks

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About Doug Eberhardt

Doug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534

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