Another major warning has just been issued that gold and silver prices are going to skyrocket…
A portion of today’s note from legend Art Cashin: Not Quite “Irrational Exuberance”, But Close – Former Fed Chairman, Alan Greenspan, took a swipe at the bond market. Here are a couple of bits from a Bloomberg article on his comments:
“By any measure, real long-term interest rates are much too low and therefore unsustainable,” the former Federal Reserve chairman said in an interview. “When they move higher they are likely to move reasonably fast. We are experiencing a bubble, not in stock prices but in bond prices. This is not discounted in the marketplace.”
“The real problem is that when the bond-market bubble collapses, long-term interest rates will rise,” Greenspan said. “We are moving into a different phase of the economy — to a stagflation not seen since the 1970s. That is not good for asset prices.”
King World News note: It is important to remember that the stagflation of the 1970s helped fuel the stratospheric rise in the price of gold 25.5 times higher and silver 38 times higher. The bottom line is that a 1970s-style stagflation will cause gold and silver prices to skyrocket.
***KWN has just released the remarkable KWN audio interview with Bill Fleckenstein and you can listen to it by CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: ALERT: Hindenburg Omen Warnings Just Hit An All-Time Record! CLICK HERE.
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