Financial system reset, page-583

Silver: Grizzled Veteran Betting on Three-Figure Price

Remember this table? It’s various silver predictions I showed in last week’s article.

I was between meetings and sat down beside an older gentleman and struck up a conversation about the industry. Turns out it was none other than Leigh Goehring, from Goehring and Rozencwajg of the above silver prediction.

Three guesses what we talked about.

First thing I asked him was if he really believes silver is going to $500.

“Yes, somewhere in that range.”

“Due to a surge in industrial demand, or maybe supply/demand issues?” I piqued.

“No. Though politicians around the world will continue to push the energy agenda, which requires silver.”

“From what then?” I had my own views of course, but I wanted to know what he thought.

“Monetary reasons. The US dollar won’t survive in its current form.”

“But that’s been the thought for a while,” I countered, playing devil’s advocate.

At this point he abruptly stopped and looked at me sternly.

“There’s no free lunch here, Mr. Clark. That’s what too many people have been conditioned to think.” That statement certainly rang true to me.

He continued. “The debt is not sustainable and can never be repaid. And with higher rates the US government won’t be able to pay the growing interest on that debt without printing money.”

I think you mean currency, Mr. Goehring.

“Gold’s going to the $10,000 range,” he declared, almost as if a foregone conclusion. “They’ll destroy the dollar. I don’t think people understand what that means.”

“And that’s how silver gets to $500?”

“Right. Gold will lead, but silver will surpass it, and the ratio will hit 20 again,” he said, referring to the near-low the gold-silver ratio hit in 1980.

“When’s this runaway surge getting underway?”

“Everybody asks me that. Maybe 2024 or 2025, 2026 at the latest. Certainly before 2030. It’ll be a different world then, monetarily.”

“Sounds a little scary,” I prompted.

“That’s why you own gold, Mr. Clark.”

We talked about mining stocks a little, and I shook his hand as we departed, grateful I could pick the brain of a wizened and highly successful veteran of the market (he once ran the largest resource fund in the world). This is a guy with a big picture view of the world that sees undeniable fundamentals for gold—and a super spike coming in silver.

I don’t know if gold and silver reach the levels he thinks or not. But I feel pretty darn confident about the direction.

You’re a Fund Manager for Your Family

Many people reading this are responsible for managing their family’s investments—you might say you’re the “fund manager” for your family.

Well, I can tell you that most fund managers who follow the gold market for a living don’t invest for how they think things play out in the near term (more price weakness), but for irrefutable fundamentals that demand gold ownership (and yes, some mining stocks, too). And a run for the record books in silver.

If one looks at the world soberly, honestly, and dispassionately, you might find you agree with that assessment—and would invest similarly. I know I am.

About Jeff Clark

An accomplished analyst, author, and speaker, Jeff Clark is a globally recognized authority on precious metals. The son of an award-winning gold panner, with family-owned mining claims in California, Arizona, and Nevada, Jeff has deep roots in the industry. An active investor, with a love of writing, Jeff eventually became a mining industry analyst, including 10 years as senior editor for the world-renowned publication BIG GOLD. Jeff is also a regular conference speaker, including at Cambridge House, MoneyShow, New Orleans, Silver Symposium, Wealthion.com, and many others. Today, he provides free mining stock analysis across the industry’s most popular websites and publications.