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“I derived my initial $5,000 target for gold by annualizing the nominal return for gold over the next three years but, given the differences between the 1970s and today, I wouldn’t be surprised if everything related to commodities performs even better this time around – albeit with sharper volatility – than in the earlier decade…[and that goes for] my nominal 10-year target of $35,000 [as well].” #$$4$
To continue reading Dr. Stephen Leeb’s article on King World News go here.
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I agree because until recently I thought the dollar had a short shelf-life, and would soon have to be replaced by commodity-backed currencies. But the sad fact is that none of the other national currencies–even if gold-backed–have the clout (strength, flexibility, global acceptance, negotiability, etc.) to compete with the threadbare dollar. So, I now expect that precious metals will continue to take a beating to preserve whatever dollar value is left, but that accelerating bank-created inflation will inexorably force people who now surrender 2000 Nothings(dollars) for an ounce of gold, to somewhere down the line, surrender 35,000+ Nothings(dollars) for that same ounce of Value. The reality is that increasing gold and silver prices don’t mean that they become become MORE valuable. The fact simply is that dollars become less valuable. The dollar is the measurement we use to tell where, on the dollar-gold scale, the shifting value lies. The more dollars are created, the more people want to convert them to something Non-dollar, hence the end-run to cryptos. But cryptos, in my opinion, are nothing more than a fragile E-fiat and are destined to suffer the same eventual fate as fiat… with their value evaporating like the value of stocks in a crashing market.