It Will Lead to Record Gold Prices
I want to go on record to say that Wealth Research Group now envisions gold hitting $2,500 in 2024, if not higher.
The way that gold’s price structure has behaved leaves no room for doubt. There will be a pretty tremendous bull market in commodities in the coming years, and it has nothing to do with the reasons that sparked the supercycle in the 2000s. In other words, China is not the engine this time around…
In recent days and weeks, I’ve highlighted some of the key metrics that led me to this ultra-bullish outlook. Today, I want to wrap up the subject and leave no doubt that this is an inflationary resurgence that is going to be outside the control of the Federal Reserve and other major powers who can’t stop the trend but only keep it at bay.
The major difference between this time and other major bottoms, like 2018 or 2020, is that we think that gold stocks will actually perform better than the underlying commodity!
I remember taking my daughter to her first live show. She was ecstatic, but the performer she came to see had several concerts that day, and the announcer apologized and said she would be late.
Other parents got upset and impatient after constant questions from their children asking where their beloved singer was. She finally made it nearly an hour later.
Not even for a split second did my daughter have any doubt as to whether or not waiting for 45 extra minutes was going to be worth it. In her mind, she knew that she was about to see the female artist she loves most even if she didn’t arrive on schedule.
Gold is that performer in the markets. Everyone knows that the bull market is just around the corner, which is why the price is near $2,000/ounce even after the FED raised rates to insane highs and crippled the housing sector.
93% Of Investors Generate Annual Returns, Which Barely Beat Inflation.
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Joe Biden drained the strategic petroleum reserves in order to make the public forget about hyperinflation for a while. When his administration had the chance to replenish it, they opted not to because they wanted to choke the Russian economy, but that was a costly mistake.
The Russians and Saudis have collaborated to cut oil’s supply, and it is trading close to $86/barrel, but Washington can’t afford to use more of their already-tapped reserves.
Inflation is back, but the FED has already announced for months that inflation is looking healthy. To drastically change their tune would tarnish their reputation.
Rising oil prices mean the consumer pays more for everything, and this spells recession to me.
While this is a great setup for gold, it’s not a welcome sight for much else, and I have begun to trim many of my positions that capitalized on the comeback of the NASDAQ.
This isn’t the time to bet on the consumer or on normalcy returning…
For example, I just sold shares of Cloudflare (NET) after they soared 50% this year because it’s time to give up on growth for a while:
This great business was part of the portfolio I published on January 3rd. It handily beat the indices, but I believe that the FED is going to make some tough decisions between now and next June when the markets forecast a rate cut. That environment won’t be bullish for stocks, but it will be for gold.
We timed Cloudflare perfectly, and we are now pocketing tech winners in order to focus on the next cycle…
That cycle will be about hard assets and value companies.
Governments Have Amassed ungodly Debt Piles and Have Promised Retirees Unreasonable Amounts of Entitlements, Not In Line with Income Tax Collections. The House of Cards Is Set To Be Worse than 2008! Rising Interest Rates Can Topple The Fiat Monetary Structure, Leaving Investors with Less Than Half of Their Equity Intact!
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