Re <<check>>
arguably we are closer to WWIII now than we were 12 months ago, and without argument, 24 months ago
bullish for the consolation prize
ask-socrates.com
The Gold & the Future?
THURSDAY, JULY 20, 2023 BY: MARTIN ARMSTRONG
I tend to look to gold for two primary reasons. First, gold will decline with a rising dollar since it is an international commodity. That is when it rises in terms of other currencies. Secondly, gold will respond to the threat of World War III - not in this nonsense of inflation. Inflation and the money supply rose for 19 years, while gold declined from 1980 to 1999.
This is part of the problem with the gold bugs. They view the entire world only from a dollar perspective. You will not buy assets in Mexico if the peso continues to decline. Everyone will respond to a market based on their currency. That is why I say that a real bull market in gold requires it to RISE in all currencies. Gold has made three rallies to the same general area in terms of dollars, but gold has been rising in other currencies.
Forget the whole inflation nonsense. The big issues are the domestic politics in the USA, and the criminal prosecution of Trump is all political to prevent him from running in 2024. This is obvious to everyone outside the United States, and this will have a serious impact on the collapse in the overall confidence of governments globally. In addition, Ukraine began using cluster bombs today to try just to slaughter Russians, including civilians, in the Donbas. This is a MAJOR war crime, but the West only talks about war crimes from Russia - never the West. The pressure is being escalated in hopes that Russia will resort to nuclear weapons so they can justify using nukes on Moscow.
Our computer models are unyielding when it comes to World War III. This will be just a fact of life. Looking at this chart of gold clearly shows that it will breakout on the fourth pass to the upside. Even our most modest projections put gold at the 2700 level by 2031. The more middle-of-the-road projection takes us up to 3300.
Anyway, we look at gold alongside everything else, not only does the same old story from the gold bugs becomes just laughable with the whole hyperinflation nonsense, but their desperate attempt to goose gold up and destroy the dollar is not a world where you want to live. Gold would not be of any use amid total anarchy.
So, for now, we have our markers. Beware of next week into the first week of August. |
