Ignore Digital Dollars "Hot Air" and Watch For Gold $3000 and Silver $50
Ignore Digital Dollar’s 'Hot Air' and Watch for Gold $3,000, Silver $50
Stansberry Research: 5-31-2023
“Silver is gold on steroids. After gold gets going, people start to look at the next big thing, silver takes off,” says John Doody, editor of Gold Stock Analyst. He talks about the factors contributing to the bullish outlook for gold and silver, including unresolved debt issues and the Federal Reserve's aggressive interest-rate hikes.
He also discusses the deep-rooted cause for the recent banking crisis. "It's 2008 all over again. The banks are loaded up with bonds, [and] the value is way under what they paid for,” argues Doody.
He explains that the Fed’s rate-hike policy has diminished the value of bonds, leading to the death of Silicon Valley Bank since it had to sell bonds in losses to return money back to depositors. “The whole problem is really a problem for all banks,” he says.
He believes that all banks are underwater in terms of bond holdings. Additionally, he contends that a cashless society is less likely because “people need cash to do transactions.”
Chapter stamps:
00:00 John’s take on the gold price
3:34 What’s so significant about gold behaving this way now?
6:08 Fed and gold
7:19 Mining stocks
7:38 Top 10 lists
9:27 New presidential candidates support bitcoin
11:45 CBDCs 13:09 De-dollarization
14:04 U.S. dollar
15:00 Europe and Germany recession
15:40 Turkey sold off gold
16:33 Silver