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Harry Dent’s Simple Strategy for Surviving Withdrawals from ‘Markets on Crack’

from The AU Report:

The Gold Report: Your book, “The Demographic Cliff: How to Survive and Prosper During the Great Deflation of 2014–2019,” predicted a great deflation based on demographic trends. Were you surprised by the strong stock market over the last year?

Harry Dent: Yes, I was. I’m always surprised. Bubbles go and go until they suck everybody in. It’s been this way all throughout history. This is a bubble. It looks like a bubble, quacks like a bubble and tracks every bubble in history. It’s going to burst, but we continue to have outside influences propping it up. The Federal Reserve announced tapering of quantitative easing, but then the Bank of Japan and the European Central Bank stepped up their bond buying, and the markets are eating it up.

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1 comment to Harry Dent’s Simple Strategy for Surviving Withdrawals from ‘Markets on Crack’

  • Ed_B

    Harry Dent: often wrong, never in doubt. lol

    “I think gold is ultimately going to hit somewhere between $250/oz and $400/oz. I just think the next major stop is $700/oz. I think silver is going to hit $5–10/oz before it comes up again.”

    Here again, Harry has NO idea what it costs to produce an oz. of gold or silver. If he did, he would not be guessing that the price would fall to 1/2 of its production cost or less. Miners simply cannot afford to work for free and that is what Harry is saying they will do via this ridiculous price. The fact is, gold cannot drop below about $1,000 per oz. and silver not below about $18 an oz. as these are very close to the cost to produce these metals. Any time either of them gets close to these numbers or manages to fall below them briefly, that is a screaming BUY! signal. If, for example, it costs $2 a lb. to produce chicken and it is on sale for $1.50 / lb., buy all you can safely store. It’s the same with PMs… wild-eyed pricing theories notwithstanding.

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