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“$10,000 Gold” author Nick Barisheff on the reasons why he sees gold could reaching $10,000 an ounce.
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Moving factors like food inflation worries a possibility of QE3 456.
It goes on forever and European woes could all add to give a huge boost to gold.
But the precious metal still has a way to go to reclaim its inflation adjusted all time high with me now -- a man who thinks gold is going to 8000.
Dollars.
In five years.
It bearish up is author of 101000 dollar gold -- be in ever double rising gold is the investors safe haven and he joins us now.
Some 101000 bucks in five years how -- I want thanks -- honest I'm less time.
Today in -- basic reasoning gold goes -- as if you look back at church arkansan in this avenues.
As when in -- many investors globally song and lose faith in the name in the financial system in the currency.
But so was happening in the seven is.
And and it's had an associate look back at all newspaper reports today didn't talk about gold rising and talked about it.
The US dollar declining against gold.
That's what's happening today it's not gold is rising currencies are declining there isn't a declining.
-- various governments around the world and this -- into any currency.
Yeah so we let me let me just -- a few -- -- -- what could happen here for example.
Let's say Europe falls apart as we've seen the Euro -- that has meant dollar strength.
That's sort of goes against what you're saying does that impact.
Your theory and -- I -- now because there's the issue is that they have.
The dollar strengthened in the in the US dollar will probably be the last currency to fail.
Because that's exactly what just -- -- said what'll happen as other weaker currencies -- The flight will initially -- to -- US dollars and and growing.
Increasing amount to gold itself.
Yeah but why would they bail on the dollar.
-- for the same reasons they're bailing you know on the heroin and -- -- As.
If you look at I chart of the US debt -- -- gold price you'll find it's almost perfect correlation.
So what's happening.
Now in the US in most western countries.
This is the debt is growing too I'm unsustainable insured principal levels and it's not simply I commend you less than fifteen trillion of debt.
-- say it's almost 200 trillion in unfunded liabilities.
Was as I -- million dollars per taxpayer.
Now -- -- -- without question that's should you care who wins the next presidential election does that impact your -- at all.
-- other travelers from a political point -- here you're here you're going got so many choices.
If you're not lucky enough where -- the economy will grow itself out of the problems you can implement austerity.
You can implement taxation.
Both -- -- him politically.
And unacceptable if with consequences.
Or you can simply print the money and postpone the problem.
That's from politicians have been doing for a long time.
And in Europe it's coming to a -- sure -- sooner but it eventually it's the same problem around the just unsustainable levels of debt.
That can't be easily resolved.
Before -- -- can I ask you real -- is there anything that would make you abandon this -- any sign post along the way.
Any sign posts I -- likely -- happened because from and unless you change the system entirely.
Possibly in -- -- wrong policy theory it's just not gonna get corrected.
Okay it just think -- thanks for coming on tonight we appreciate it -- to keep an -- gold.
We'll bring you back a second hits 101000.
