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Eric King:  “Michael, you’ve looked at the bull market gold had in the 1970s, going from $35 to $850.  When you try to establish a fair value for the price of gold, have you looked at that at all?”


Pento:  “I did some work (on this) in 2007 and 2008.  I came up with $6,000 an ounce....


Continue reading the Michael Pento interview below...  




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“People say, ‘You can’t judge the value of gold, it has no intrinsic value.’  Gold does have intrinsic value.  It’s extremely rare, virtually indestructible, and it’s the best form of storing wealth that I am aware of.


I looked at the base case of $35 an ounce going back to 1933.  I looked at the money supply growth of U.S. dollars and the mine supply growth of the metal, and I came out with a $6,000 figure.  So somewhere around $6,000, and if anything, Eric, the fact that we have so much debt -- $17.5 trillion now in the United States -- there is no way that the debt can ever be paid back in real terms.  It’s going to have to be monetized.


And you can say the same thing for Japanese debt, Chinese debt, and European debt.  The conclusion has to be reached that the money supply growth rate has to increase dramatically.  So $6,000 is a very base figure for me.”


IMPORTANT - The extraordinary KWN audio interview with Michael Pento, discussing what he’s doing with his money, $6,000 gold and the coming chaos is available now and you can listen to it by CLICKING HERE. 


UPDATE - Second Felix Zulauf interview to be released within hours.


© 2014 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 This material may not be published, broadcast, rewritten, or redistributed.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.


The audio interviews with Felix Zulauf, Michael Pento, James Turk, Victor Sperandeo, Dr. Philipa Malmgren, Grant Williams, Dr. Paul Craig Roberts, Bill Fleckenstein, Dr. Marc Faber, Egon von Greyerz, Ben Davies and Art Cashin are available now. Other recent KWN interviews include Eric Sprott and Jim Grant -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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