Sunday, September 18, 2016

David Stockman*: Gold Prices Will Soar 
When Central Banks Fail
Greg Hunter .. Former Reagan Administration Budget Director David Stockman's view of the wealthy buying gold is most sobering and illuminating. Stockman contends, “I think some people are realizing the central bank era of bubble finance and massive money printing is leading to a dead end and some kind of crackup phase in the world monetary system and a breakdown of confidence in the central banks. I think what this means is when the market loses confidence in the current regime, when they no longer believe the Fed has your back, that there is a put under the market or that they know what they are doing, when that confidence finally evaporates, the monetary system will be in crisis. Gold prices, in my view, will soar because it will be seen as the last refuge of monetary assets that are outside the purview of the control of a failing central bank system. I don’t think we have seen anything yet. It’s only a matter of time when we see the gold price revisit the $1,950 per ounce price that was achieved a few years ago and probably goes well beyond that.” .. 42 minutes

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