Martin Armstrong has been bullish US$ and bearish/neutral on gold for a while. However he does have a target of around US$6000 in a few years.
This relationship between gold and real interest rates has validity within conventional thinking, however gold is an asset class that takes on characteristics of a currency when faith in fiat currency is declining. This is why Armstrong's model has the 6000 target ...we are entering the period of collapse in confidence in government and government issued currency. The old gold bull Jim Sinclair said many moons ago "gold is a hedge against government incompetence and silver is a game
Of course we need to be careful what we wish for..... as one gold mining CEO said a few years ago "the last thing I want is to hear is that gold has gone to $2500 because Iran sent a nuclear warhead to Israel
$6000 gold is not a peaceful world.
Martin Armstrong has been bullish US$ and bearish/neutral on...
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