After gold and silver rebounded sharply after an end of month takedown, today James Turk told King World News that gold and silver are finally ready for a major breakout to the upside.
What’s Coming Next Could Be Scary
November 3 (King World News) – James Turk: “I’m in my 70s and I’ve been at this now for 50 years. And every cycle they (the Fed) somehow manage to save the ship from sinking. But if you go back and look at monetary history, eventually the ship does sink. What I mean by that is the currency ultimately collapses. It’s happened something like 100 times since the second world war. The dollar has remained but there are dozens and dozens of other currencies that have collapsed because their central bank couldn’t keep the ship from sinking. The weight of debt and the slowness of the economy that fails to generate enough to service that debt eventually caused the currencies to collapse…and what’s coming next could be scary, Eric.”
Ready For Major Breakout, And Silver…
Eric King: “James, what about the end of the month takedown in the metals — what are your thoughts on what unfolded?”
James Turk: “It was a one day wonder — window dressing by the shorts to make their positions look better. But the important thing is not the smash but what happened afterward, which was the big rally. It shows a couple of things, Eric. Both gold and silver have really solid support. So that one day smash didn’t really mean that much because prices rebounded right back. Now gold and silver are back near the highs and ready to breakout of these trading ranges where they’ve been confined for the past few months. In fact, silver…To continue listening to this powerful KWN audio interview with James Turk CLICK HERE OR ON THE IMAGE BELOW.
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