Billionaire Pierre Lassonde warned King World News “it’s not going to be pretty this Fall.”
Lassonde is arguably the greatest company builder in the history of the mining sector. He is past President of Newmont Mining, former Chairman of the World Gold Council and former Chairman of Franco Nevada. Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.
Playing With Fire
March 23 (King World News) – Eric King: “Pierre, trying to understand the deflationary aspects of severe recession coupled with the inflationary aspects of massive bank bailouts. What are your thoughts?”
Billionaire investor, Pierre Lassonde: “The Fed was too slow raising interest rates after increasing its balance sheet by something like $3 Trillion. Now it’s fighting stubborn inflation and is playing with fire as these higher interest rates are slowing but surely killing the real estate and car businesses. As well earnings are going to be dramatically impacted by higher rates and a slowdown in the economy.
I think the S&P is going down 20 to 30%.
Gold will stay the course until the Fed capitulates. It may take 6-9 months but then it will rocket.
It’s not going to be pretty this Fall my friend.”
Bank Bailouts And The US Dollar
Eric King: “Do you think the dollar will get stronger or weaker during that 6-9 months? Europe has to print to bail out and so does Switzerland. Crazy times!”
Billionaire investor, Pierre Lassonde: “Europe never printed much money unlike the USA. The Fed deficits are going to expand grotesquely and the USD $ [will] go down.”
Lesson From Dr. Ana Schwartz
Eric King: “I agree it is going to be a brutal contraction this time. High inflation literally paralyzes an economy. Dr Ana Schwartz told me that. She co-authored the book A Monetary History of the United States with Milton Friedman.”
Billionaire investor, Pierre Lassonde: “I’ve read the book. Indeed excellent.
A Second Wave Of Inflation Is On Its Way
Billionaire investor, Pierre Lassonde continues: “I don’t think the Fed will be able to bring inflation down that easy. I foresee a second leg [of inflation] pushed up by oil & gas prices.
But we’ll see.”…
Billionaire mining legend Pierre Lassonde has been buying large blocks of shares in this gold exploration company and believes the stock is set to soar more than 150% in the next 6 months. To find out which company CLICK HERE OR ON THE IMAGE BELOW.
A Costly Mistake
Eric King: “I think you are right about a second leg [of inflation] led by higher oil and gas. Stupid US not refilling our oil reserves like they promised. Unbelievable.”
Pierre Lassonde: “That’s going to be very costly.”
Eric King: “Thanks for the update. It’s going to be one hell of a run in gold when it finally unleashes!”
Pierre Lassonde: “Yep.”
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