Huge News From Central Banks! It's GAME OVER For Gold & Silver When This Happens?- Gregory Mannarino
Huge News From Central Banks! It's GAME OVER For Gold & Silver When This Happens?- Gregory Mannarino
The Minerals Council of Australia says the same monetary policies and investments expected to drive up the price of gold by 2030 will also push its poor cousin along. The MCA predicts silver prices will surge 27% because of increased demand for silver in consumer electronics and solar photovoltaic cell production.
Gregory Mannarino, often dubbed "The Robin Hood Of Wall Street," is a prominent financial strategist. He emphasizes silver as the most undervalued asset, even more than gold, which he believes is hoarded by wealthy individuals and Wall Street institutions.
With all macroeconomic factors in play, Gregory anticipates a potential market meltdown with a one-to-one gold-to-Dow ratio. He highlights the global influence of central banks, asserting that they are orchestrating the destruction of freedoms. If we look back 100 years to 1918, then the Dow/Gold Ratio was around 3. It took 3 ounces of gold to "buy" the Dow Jones index.
Remember, if the ratio was 1:1, one ounce of gold would buy all the stocks in the Dow Jones Industrial Average. So, if the Dow remained at today's number of around 41,563, gold would have to rise to 41,563 dollars per ounce to result in a 1:1 ratio.
According to him, the debt market is in the largest bubble in history and will continue to inflate, setting the stage for an inevitable disaster. Gregory seized the recent market drop as a buying opportunity, noting that stable US 10-year yields and a falling dollar signaled a chance to increase his positions. US debt is expected to top 56 trillion dollars in the next decade. At the same time, the debt-to-GDP ratio is forecasted to surge, making it harder to pay off the national debt. Many experts are raising their gold price predictions even following a massive rally as the debt issue continues to drive demand.
During the interview, Gregory Mannarino expressed his concerns about Bank of America's current situation. He predicts that Bank of America might be set up as a fall guy, much like Lehman Brothers and Bear Stearns during the 2008 financial crisis. Mannarino believes that central banks intentionally deconstruct the system and will need a scapegoat, with Bank of America possibly fitting that role. Billionaire Warren Buffett's Berkshire Hathaway opens new tab has sold some more shares of Bank of America and opened a new tab over the past few days, raking in 981.9 million dollars, as the conglomerate continues to trim down its stake in the second-largest US lender.
Warren Buffett's historical backing of Bank of America signifies his confidence in the banking sector's resilience. However, the recent large-scale selling may indicate a shift in Berkshire Hathaway's strategy or a repositioning in response to broader economic factors.
Due to this instability, Gregory advises pulling funds from smaller institutions and avoiding banks like Bank of America. The current financial system is unsustainable, and central banks are betting against it while promoting traditional currencies.
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