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Caesar Bryan continues:
“What has happened slowly, over that 41 year period, is we have built up a massive debt to the point where confidence in monetary authorities has been eroded. Central banks and investors around the world are now coming back to gold. So we need to remember that this is a secular move back into gold.
This gold bull market is going to last a while, and we are in the early innings....
Continue reading the Caesar Bryan interview below...
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“Before this bull market is over, gold will head enormously higher when expressed in fiat currencies because of the loss of confidence in the system. It continues to be eroded.
The fiat currency experiment is under pressure, and this benefits gold. Central banks around the world are now adding to their gold positions. Exports of gold from Hong Kong to China have run about 400 tons so far this year. Of course some of that gold is finding its way into the Chinese Central Bank.
We also saw Korea added to gold. Private investors should be doing what central banks are doing, which is adding to their gold. Central banks have abused the power to create currency, and that is going to continue to be reflected in the mispricing of goods and assets across the board.
I would also add that the crisis in Europe has not gone away, and we can expect to see more chaos in the fall. Greece is running out of money and yields in Italy and Spain are unsustainable. So the debt is compounding and the European problem remains unsolved.”
Caesar had this to say regarding the mining shares: “The mining shares had a good rally, gave up a bit of ground, and now they are coming on strong once again. Stepping back, I think the mining stocks are unloved and now represent tremendous value.
You can buy gold in the ground at a huge discount to where it is trading in the market by owning quality companies in the sector. This is the exact scenario where we have seen the big, smart money accumulating shares in this sector in the past, and we are seeing the same thing happening once again.
We would anticipate the possibility that gold and gold shares will break out to the upside in a meaningful way this autumn, if not sooner.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
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Eric King
Gold & Continued Loss Of Confidence In The Financial System
With the recent surge in gold, silver, and the mining shares, today King World News interviewed 25 year veteran Caesar Bryan over at Gabelli & Company, which has over $31 billion under management. Here is what Ceasar had to say regarding a continued loss of confidence in the financial system: “Yesterday marked the 41st anniversary of the US coming off the gold standard, thus severing the ties of the US dollar to gold. We get caught up in the day to day ebbs and flows of financial markets, but sometimes you need to take a step back and realize we are 41 years into a monetary experiment without precedent.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
August 17, 2012
