Doug Casey on Gold: “The Potential Is Here for a Climactic Runaway Mania”
Legendary investor Doug Casey, who has previously warned that we’re headed into the next Great Depression and that the speed of the collapse will leave most people waking up to the danger after it has happened, says that there are steps you can take now to prepare. He’s previously recommended that people get out of major cities and position themselves in such a way that you have basic survival essentials on hand when the dollar itself becomes worthless. As we move back into the hurricane Casey says that hard assets, namely gold and silver, will be the beneficiaries of what he refers to as panic buying when people realize that there are only a handful of assets that will preserve their wealth.
The end-game, as he notes in his latest interview with Future Money Trends, will be the biggest precious metals bull market of modern times:
I think the potential is here for a climactic runaway mania in junior gold stocks… In all the time I have been in this market… since the early 1970’s… these junior stocks have consistently, as a group, gone up 1000%… an unbelievable number… they have done that on the upside and then they lose 95% on the downside when the cycle starts again…
I think this coming bull market that we’re in the early stages of is going to be the biggest of them all because the world economic situation is much more serious now… so there’s going to be a panic into gold and that’s going to flow over into these little gold stocks.
Watch the full interview at Youtube
This article has been contributed by SHTF Plan. Visit www.SHTFplan.com for alternative news, commentary and preparedness info.
Source: http://www.shtfplan.com/headline-news/doug-casey-on-gold-the-potential-is-here-for-a-climactic-runaway-mania_09182016
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Whistler Blowers, Insiders
In a SHTF situation where a dollar bill becomes worthless, what would make gold any more valuable? Oh, you don’t own physical gold, just paper certificates for gold? What makes that paper any more valuable than paper dollars when SHTF? Ponder that. In the meantime:
Gold has intrinsic value and speculative value. The characteristics that give it intrinsic (commodity) value are that it resists oxidation and it is an excellent conductor of electricity. That makes gold useful for pretty jewelry and (historically) dental work, and for very fine electrical wires and contacts. As such, it is a commodity and has a price that would be classically determined by supply and demand just like any other commodity. But for speculative value.
Then there is the speculative value. That is the value placed on a quantity of gold today with the expectation that it will be worth more tomorrow. Gold has been through many cycles of bubble-and-bust. Just like real estate. It’s in the bubble phase right now.
There might be some time left for short-term profit, but gold investments will be worth less than chickens and beans when SHTF.