A certain “trigger event” will send gold prices to $10,000 an ounce, Chief Investment Officer John Butler told Reuters from his office at Amphora Capital.
And despite this incident having NOTHING to do with United States, it would spell doom for the mighty dollar . . . and overnight riches for those invested in gold.
Butler isn’t alone in thinking that gold will soar. Nick Barisheff, president and CEO of Bullion Management Group Inc., states the yellow metal “will almost certainly rise to $10,000 an ounce and beyond.”
With gold trading near $1,650 an ounce, a jump to $10,000 in the next year would hand windfall profits of 500%+ for those who are positioned correctly.
However, one economist, Robert Wiedemer, not only predicts a massive rally in gold’s price, but also foresees a historic sell-off that will send gold down to $50 an ounce.
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Editor’s Note: See the Shocking Wiedemer Interview That ‘Scared the Hell Out of Me.’ Click Here
Wiedemer, author of the New York Times best-selling book Aftershock, says, “Gold prices could become truly stratospheric — so high, in fact, we won’t even mention our best guess for fear of losing credibility.”
And credibility in the financial landscape is one thing Wiedemer is known for.
In 2006, Wiedemer penned America’s Bubble Economy. In it, he predicted a collapse of the housing market, the popping of the private-debt bubble, a stock market breakdown, and a drastic slowdown in consumer spending, along with a 50 percent rally in gold prices.
At the time, many laughed at his predictions and dismissed his work.
But as each forecast came to fruition, experts called upon him for his advice. The S&P admitted “[His] track record demands our attention.” The Dow Jones’ MarketWatch added that his work is “your bible, read it, get into action, and be a winner.”
However, Wiedemer cautions investors, saying that gold will be “the ultimate bubble,” asserting that while we are underestimating how high gold will climb, we are drastically underestimating just how far it will fall.
“With a huge oversupply and no investment demand, the price of gold will fall well below the cost of production, probably in the range of $50 per ounce when adjusted for inflation.”
Despite his predictions about a bubble in this precious metal, Wiedemer still advocates that investors should be buying gold right now; they just need to know when to get out (for details on specific signals, watch the full interview).
EDITOR’S NOTE: In a recent interview with Newsmax, Wiedemer explains the three best ways for investors to profit from rising gold prices. He also provides disturbing evidence and financial charts forecasting 50 percent unemployment, a 90 percent stock market collapse, and 100 percent annual inflation. Click here to watch it now.
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