This should send the price of gold soaring, ECB to restart QE, IMF Warns, plus the chart of the day: it hasn’t looked this bad since the Great Collapse!
“We really have not seen the metals universally embraced across a very large spectrum in this century. Even when we saw the huge run from $800 to $1,800 from 2001 to 2011, I don’t think we saw broad acceptance in the mainstream investment world. When I first got into the investment business in late 1979, everyone knew you needed to own gold (though that was about to become a bad idea). If we ever get anywhere close to that level of consensus, it ought to be a sight to behold on the upside.” — Bill Fleckenstein
This Should Send Gold Soaring
July 24 (King World News) – Peter Schiff: “It’s no coincidence that The Budget Control Act of 2011 passed the same year gold topped out near $1,900 an ounce. The pretense of deficit reduction helped cause a selloff in gold. Since 2019 is the year the act was shredded, the removal of the pretense should send gold soaring!”
ECB To Restart QE With Already Trouble Balance Sheet
Holger Zschaepitz: “Balance sheet keeps rising ahead of this week‘s meeting by another €3.8 billion to €4,688.2 billion just shy of all-time high, equal to 40.4% of Eurozone GDP vs Fed’s 18.5%. Analysts expect ECB to restart QE, meaning new records may soon be hit. (See chart below).
ECB To Restart QE With Already Trouble Balance Sheet Near All-Time High
IMF Issues Dismal Global Outlook
Jeff Snider at Alhambra Partners: “With the global infection confirmed, the downside risks apply to DM as well as EM (therefore, rate cuts in the US and already around the world). IMF says risks remain on the downside and that “projected growth pickup in 2020 is precarious.” (See chart below).
PRECARIOUS SITUATION: IMF Says Risks Remain On The Downside For Global Economy
CONTRARIAN PLAY: Comeback For Value Stocks?
Lawrence McDonald, Former Head of Macro Strategy Societe Generale: “Value stocks haven’t traded this cheap to growth since the DOJ went after Microsoft in the late 1990s. Today the DOJ went after Facebook, Google and Amazon.”
CAUTION: US Total IOUs Relative To GDP
Lawrence McDonald, Former Head of Macro Strategy Society Generale, continues: “When FDR put social security together in the 1930s, he didn’t have negative interest rates in mind. Social security and Medicare own over $5T of US Treasuries. With unfunded liabilities near $140T, the interest rate of return on investment is needed to fund these obligations.
US: Total IOUs relative to GDP
2000: 600%
2010: 800%
2020: 1100%
*Government debt, social security, private debt, medicare, pension liabilities…
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Chart Of The Day
Keith McCullough, CEO, Hedgeye Risk Management: NO WORRIES: Chart Of The Day
CHART OF THE DAY: It Hasn’t Looked This Bad Since The Great Collapse
Bill Fleckenstein discusses in detail what investors should be doing now after the surge in gold, silver and the shares as well as the discussing the action in gold and silver and what to expect next in his KWN audio interview and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
Gold, Plus Look At What Just Hit A 5-Year High
READ THIS NEXT! Gold, Look At What Just Hit A 5-Year High, Plus QE Infinity CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
Gold & Silver, Debt Ceiling And The US Dollar, Plus One Hell Of A Collapse CLICK HERE TO READ
Gold & Oil, Big Money Flowing Into Silver And Silver Stocks, Plus Print And Leverage Big-Time CLICK HERE TO READ
Frustrated Short Seller Says, “Fighting (This) Is A Losing Proposition” CLICK HERE TO READ
Prepare For Large Scale Intervention To Push US Dollar Lower, Plus A Remarkable Look At Gold & Silver And What Will End In Tears CLICK HERE TO READ
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