- Mad World: Currencies to Zero, Bonds Minus Zero — Precious Metals to Explode Higher
by Egon von Greyerz, https://goldswitzerland.com/
How far down the rabbit hole will the world go? It seems that just like in Alice in Wonderland, things are getting more strange by the day. If it continues at this speed, the rabbit hole will soon become a black hole without a bottom.
Bonds cost money to hold, currencies are soon worth nothing and gold will reach at least $7,000 before it reaches $700.
BONDS WITH NEGATIVE RATES WILL SOON TOTAL $50+ TRILLION
Bubble bond markets are getting bubblier by the day as the $16 trillion bonds with negative rates grow to soon $50 trillion when the US, with its $22 trillion, joins the bond interest rate race to the bottom and below.
And most currencies are already almost at the bottom, having lost 98-99% since 1971 and 80% since 2000. Stocks will soon join as they collapse from dizzy heights.
Also strange is that Harry Dent still insists that his $700 target for gold will happen. He has a good track record in markets and therefore has a lot of followers. He argues that gold in US dollars hit resistance at $1,525 which is the bottom of the 2011-12 consolidation after the peak.