Gold Going to $174,000 an Ounce!

So say Mr. Gold, Jim Sinclair and Bill Holter here…

$174,000 per Ounce Gold Not Funny – Scary – Jim Sinclair & Bill Holter

The host (employing the traditional opening hook to suck in the kinds of bugs that go for this stuff like moths to a light)…

“This is probably the most important interview I will do, ah, all year and probably the most important interview I’ve done since I’ve been doing video…”

Here, see for yourself. No way am I going to sit through this thing, so if I’ve got it pegged wrong, do tell. But per this excerpt from the article linked above, I suspect not.

Renowned gold and financial expert Jim Sinclair and financial writer Bill Holter are sounding the alarm now on global financial markets starting to burn down and implode.

The article has a side order of Catherine Austin Fitts and “Professor” Mark Skidmore to lend credibility. But, well… ha ha ha.

The problem of course, being that these dynamics (US/Global CB debt creation) have been in play most intensely since 2008 and let me see, 2018-2008 = hmmm… that’s 10 years of economic stability>growth>boom.

Much as with our Summit of Doom noted last week, these old hands have been stuck on the same note for the whole time. I know of Mr. Gold, Jim Sinclair because well, every gold bug knows about him. I know about Bill Holter only because someone – can’t remember who – long ago used to send me his communiques to the gold “community” faithful about things like what’s implied in this post’s title. My trash bin awaited these emails.

Look, I have pounded the table about the debt edifice. I think it is unhealthy and I think it is going to seize up the system someday. But as Creedence would say…

Well, I’m here to tell you now, each and every mother’s son
That you better learn it fast, you better learn it young
‘Cause someday never comes

In my previous post linked above I had to admit – and if you are writing a reputable blog, website or newsletter you’d better damn well be prepared to admit things (something the worst of the gold “community” routinely soft pedals… cough cough, Casey, cough cough) – that I am a recovering (recovered?) debt doomer.

But that does not mean I think the problem is not a problem. It simply means that 10 years on from a historic negative event that drove Central Banks to conspire about ground breaking, dangerous and experimental monetary policy the bubble is still quite intact.

Meanwhile these guys scare what’s left of the die hard community into inaction or worse, buying gold for the wrong reasons (a Venezuela-like hyperinflation?). Listen, I have heard from many refugees of Mr. Gold’s orthodoxy over the years. Some are still apparently in recovery.

We’ve heard ’em all over the years. War, terror, famine, ebola and “we are gonna be Venezuela!” (you just wait; 10 years is nothing). Yes, the system is going to get fucking decimated someday. When someday comes. Meanwhile, the average casino patrons could not care less and the average right minded player can play and manage risk the whole time. But spare the emotion that these goofy interviews stir up.

Anyway, the article was sent by my friend Scott, a true gold bug whose lyrics reflect the situation while not trying to sensationalize like the clowns noted above. Here once again is his song ‘Broken Promises’.

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