As fears of England leaving the European Union came to a head on
voting day, a stunning scene emerged on the streets of London. Though
it was completely ignored by the mainstream media, the fact that Brits were
lining up in droves in front of gold and silver shops spoke volumes
about financial assets of last resort during a real or perceived crisis.
It is within this context that legendary resource investor Doug Casey
warns that the hurricane which took the world by storm in 2008 is still
a significant threat. While we’ve spent the last several years in relative
peace and calm inside the eye of the storm, we’ll be entering the
other side of the hurricane wall later this year, says Casey.
And as we’ve seen in London, Greece, and Argentina in the past decade, when
financial hurricanes wreak havoc across the economic landscape, the only safe
haven to be had is in precious metals:
We’re at the start of a really major bull market… This is going to
be driven by a lot of things… It’s going to take gold a lot higher than most
people can imagine at this point.
…
… I think $5,000 gold will happen at some point because we’re
looking at a worldwide monetary crisis of historic proportions.
Casey shares his concerns, warnings and strategies in a
must-hear interview with Future Money Trends:
(Watch At
Youtube)
You have to remember that since the crisis started in 2007, not just the
U.S. government which has printed up trillions of U.S. dollars, but the
Europeans, the Japanese, the Chinese… they’ve all created trillions
and trillions of currency units.
Look at it as a Hurricane… We went into the leading edge of the
hurricane in ’07, ’08 and ’09. They papered it over with all this funny money
Now we’re going out to the trailing edge… and it’s
going to last much longer, be much worse and be much different.
I believe we’re going back into the trailing edge of the hurricane
this year.
What’s most notable about the awakening of the gold bull market, according
to Casey, is that very few people have actually realized what’s happening and
why. It is for this reason that Casey has been investing heavily into mining
companies like Brazil Resources, a move that’s been mimicked by other
well-known investors including famed financier George Soros and business
magnate Carl Icahn who are also piling into precious metals related assets.
And though this asset class has been largely ignored by the broader
investing public, Casey suggests that the eventual result will be widespread
mania and panic buying into gold assets as the global economic and monetary climate gets
markedly worse going forward.
Right now, very very few people are involved in gold stocks.
They don’t even know gold exists.
By the time this market ends there’s going to be a mania in
gold, where everybody is going to be talking about it at cocktail parties and
touting mining stocks to each other.
We’re a long way from that… these stocks have a long way to run.
George Soros previously warned of the same, having noted in 2010 that gold
will become the ultimate bubble before all is said and done.
Incidentally, this is right around the time he began making his first major
acquisitions.
Since then scores of other well known investors, institutions, and private
family funds have made similar moves, many of them in secret, ahead of what could be an
unprecedented bull market in precious metals.
That gold is still considered a relic by many of the best and brightest
economists out there is indicative of an asset that is nowhere near its
potential highs.
Once you hear those same processionals, financial advisers, your
neighbors, your friends and the local shoeshine boy talking about gold
investments at cocktail parties, you’ll know it’s time to sell. For now, they
still have no idea what’s coming, making this an optimal time to consider the
one asset that has survived the test of time throughout history and the many
varieties of crises that have been wrought upon humankind.
For more interviews and market commentary visit Future Money Trends.
Click
here to learn more about Doug Casey’s latest strategic
investments.
